2018-05-24 10:06:12date was

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  • Sawiris Buys MTS Fiber Networks in Canada


    as Reuters reported

    “Manitoba Telecom Services Inc (MBT.TO) will sell its Allstream fiber optic network to a company controlled by telecom tycoon Naguib Sawiris for C$520 million (US$503 million), a deal that signals the Egyptian magnate is still keen on Canada.

    Under an agreement announced on Friday, Accelero Capital Holdings, which was founded by Sawiris and is stacked with executives from telecom companies he owns or in which he is invested, gets Allstream landline network and its 50,000 business customers.”

    This is a move, that signifies after in 2008 he attempted to buy Wireless Spectrum in Canada, but due to regulation didnt go through.

    To read more on this news click here for businessweek article & here for Ruerturs