Canada cited security concerns in rejecting Manitoba Telecom Services Inc.’s C$520 million ($504 million) sale of its Allstream unit to an investment firm co- founded by Egyptian billionaire Naguib Sawiris.
Canada rejected Manitoba Telecom Services Inc.’s C$520 million ($504 million) sale of its Allstream division to Accelero Capital Holdings Sarl Group, the investment firm co-founded by Egyptian billionaire Naguib Sawiris, citing national security concerns.
Robert Baker can’t wait to finish his electrical engineering degree at the University of Waterloo and get away from the withering Canadian technology company down the street that used to draw the top students -- BlackBerry Ltd.
Canada’s Industry Department will make an “important” announcement at 5 p.m. Ottawa time as the deadline approaches for a decision on Cnooc Ltd.’s bid for Nexen Inc. Nexen had its biggest decline in 15 months.
Canada’s rejection of a bid by Malaysia’s state oil company for Progress Energy Resources Corp. casts doubt on Beijing-based Cnooc Ltd.’s $15.1-billion takeover of Nexen Inc. and raises questions about the openness of Prime Minister Stephen Harper’s government to foreign investment.
BCE Inc., Rogers Communications Inc. and Telus Corp. -- Canada’s three largest phone businesses -- are among those that signaled their intent to bid in a wireless spectrum auction, with no indication of interest from major foreign companies.