Bell Canada Assumes Ownership of Bell West

MONTREAL, Aug. 3 -- Bell Canada today assumed 100 percent ownership of Bell West Inc. by purchasing the 40 percent interest held by Manitoba Telecom Services Inc. (MTS) for $645 million. MTS announced in December that it intended to sell its interest in Bell West to Bell Canada.

Bell's net disbursement to MTS was $570 million in cash. In accordance with the settlement agreement signed with MTS on June 30, Bell received $75 million in consideration of the early termination of commercial agreements existing between the two companies.

For more information, visit: www.bell.ca