Canada blocks network sale to Egypt's Sawiris, citing security - Reuters

The Canadian government said on Monday it blocked a bid from a company controlled by Egyptian telecom tycoon Naguib Sawiris to buy a fiber optic network, citing national security concerns. Manitoba Telecom Services Inc (MTS) had announced in May it would sell its Allstream fiber optic network for C$520 million to Accelero Capital Holdings, which is controlled by the Egyptian telecom magnate.

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