The proposed takeover of Manitoba Telecom Services by one of its rivals has taken another step forward. It's offering to pay a combination of cash and stock, worth $40 per share, for each share of Manitoba Telecom. Manitoba Telecom shareholders previously voted in favour of the deal, which would combine the province's largest telecom company with the group that owns Bell Canada. The $3.9-billion friendly offer from BCE Inc. has received approval from the Manitoba Court of Queen's Bench. Some have raised concerns that consumers could face higher prices if Manitoba Telecom is eliminated as an independent competitor to Bell and the other national mobile communications companies that operate in the province.

Source: CBC News June 29, 2016 18:11 UTC