FOR IMMEDIATE RELEASE:
DRYDEN, ONTARIO
September 20, 2012
Agreement in principle for sale of DMTS landline and Internet assets to Bell Aliant
The City of Dryden has agreed in principle to the sale of DMTS landline and Internet assets to Bell Aliant for $4.5 million, during a Special Closed Council meeting on September 19, 2012. Council received a detailed offer from Bell Aliant for the landline and Internet assets of DMTS, and is considering a separate proposal from Tbaytel for the purchase of DMTS' wireless operations.
The next step in the process is a Public Meeting scheduled for 7 p.m. on Thursday, September 27, 2012 at the Dryden Regional Training and Cultural Centre where residents and DMTS customers will be able to get more details on the offer received from Bell Aliant.
Mayor Craig Nuttall says, “It makes good business sense to consider the offer from Bell Aliant and its potential benefits to the City of Dryden and DMTS Customers. DMTS has been a great asset to the City of Dryden for over 100 years but now is the time to consider what is best for its future, and for the residents of Dryden moving forward.”
“While we are not in the market for acquisitions, this is a nice, small one-time opportunity that makes competitive and financial sense for us,” said Karen Sheriff, president and chief executive officer, Bell Aliant. “We serve all of the communities surrounding Dryden, so this is a natural fit. We look forward to bringing our experience in providing modern, reliable and affordable telecom services to the residents of Dryden.”
The proposed transaction is subject to final approval by the City during a Special Open Council meeting to be scheduled for a date after the Public Meeting. Once authorized, closing will be subject to customary terms and conditions, including regulatory approvals to be requested from Industry Canada and the Canadian Radio-television and Telecommunications Commission.
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