MANITOBA TELECOM SERVICES LTD. $33 - Toronto symbol MBT

MANITOBA TELECOM SERVICES LTD. $33 (www.mts.ca) recently agreed to sell its Allstream subsidiary, which provides integrated telephone, Internet and other communication services to over 50,000 businesses across Canada. Manitoba Telecom will get $405 million when the sale closes later this year. Excluding Allstream, MTS earned $28.2 million, or $0.42 a share, in the three months ended June 30, 2013. That’s down 12.7% from $32.3 million, or $0.49 a share, a year earlier. However, revenue rose 0.2%, to $247.4 million from $246.8 million, as strong demand for wireless and Internet services offset lower revenue from the company’s regular telephone services. Buy.

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