Dominion Lending Centres Clearlease Reports Manitoba Telecom says removing foreign ownership rules would bring it benefit

Dominion Lending Centres Clearlease Reports Manitoba Telecom says removing foreign ownership rules would bring it benefit

VANCOUVER, BRITISH COLUMBIA – (May 4, 2011) Clearlease Reports Manitoba Telecom’s chief executive said Wednesday that he expects the new majority Conservative government in Ottawa to act quickly to ease foreign ownership restrictions on the Canadian telecom industry.

Greater foreign investment would increase the ability of Manitoba Telecom Services (TSX:MBT) and others to raise capital and form strategic partnerships, CEO Pierre Blouin told a conference call.

“The removal of foreign investment restrictions would expand the range of strategic alternatives available for raising capital and forming strategic partnerships that strengthen our business and increase value,” Blouin told analysts after the company reported a 58 per cent jump in its first-quarter profit.

“We believe that it would make the industry more competitive and would benefit not only us, but all Canadian businesses and consumers,” Blouin said.

At least one analyst has said that relaxed rules could mean that Manitoba Telecom (TSX:MBT) could end up selling its Allstream unit, which provides corporate telecom services.

Manitoba Telecom Services acquired Allstream, formerly AT&T Canada which faced restrictive rules when it was operating in Canada, earlier this decade for $1.7 billion.

Relaxing foreign ownership rules could also mean that global telecom companies could set up shop or partner with Canadian telecom companies.

Industry Minister Tony Clement has already announced consultations on foreign ownership, outlining three options — removing all restrictions; increasing the limit of foreign investment from the current 20 to 49 per cent and/or lifting restrictions for carriers with less than 10 per cent market share.

In its financial results, Manitoba Telecom Services reported a 58 per cent increase in profit to $43.4 million in the first quarter, helped by its wireless and broadband services.

Earnings per share were 67 cents, compared with 42 cents in the same quarter in 2010. But operating revenues were down slightly, to $439.3 million from $442 million.

“Our first-quarter results across the company were strong and demonstrate that our strategy is working,” Blouin said in a statement.

“We are focused on driving growth in wireless, IP television, broadband and IP-based services; increasing high-margin on-net sales at Allstream through the expansion of our fibre network and continuing our cost reductions,” Blouin said.

Revenue for the MTS division that provides mobile phone, Internet-Protocol TV, Internet and residential phone services was $235 million versus $228 in the same period last year.

Wireless revenues were up 9.7 per cent to $84 million, mainly due to high data usage. Revenues for services such as Internet protocol television and Internet services were up 7.2 per cent to $47.7 million.

MTS said it had 483,722 wireless subscribers, up more than five per cent in the quarter. Average revenue per user was $57.73, up 3.6 per cent.

The Allstream unit had total revenues of $204.7 million, down 4.5 per cent from the same quarter last year.

But revenues from Internet-protocol based services to businesses were up 7.9 per cent to $57.5 million due to winning service contracts with new clients.

“This solid increase in IP sales activity continued into 2011, supporting sales levels that are expected to result in double-digit revenue growth in 2011,” the company said.

Long-distance and legacy data services at Allstream dropped 10 per cent to $56.1 million in the quarter.

Desjardins Financial analyst Maher Yaghi said the results for MTS were in line with his expectations.

“We continue to believe that the MTS division is of higher importance than Allstream given its greater contribution to profitability,” Yaghi wrote in a research note.

“The Allstream business does appear to be a turning a corner following a tough period for the company during the recession,” he said.

Shares in Manitoba Telecom Services were up 29 cents at $31.11 in trading on the Toronto Stock Exchange.

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###

Video Link: http://youtu.be/f_kk7WJa7Uk

Dominion Lending Centres Clearlease Reports Manitoba Telecom says removing foreign ownership rules would bring it benefit

VANCOUVER, BRITISH COLUMBIA – (May 4, 2011) Clearlease Reports Manitoba Telecom’s chief executive said Wednesday that he expects the new majority Conservative government in Ottawa to act quickly to ease foreign ownership restrictions on the Canadian telecom industry.

Greater foreign investment would increase the ability of Manitoba Telecom Services (TSX:MBT) and others to raise capital and form strategic partnerships, CEO Pierre Blouin told a conference call.

“The removal of foreign investment restrictions would expand the range of strategic alternatives available for raising capital and forming strategic partnerships that strengthen our business and increase value,” Blouin told analysts after the company reported a 58 per cent jump in its first-quarter profit.

“We believe that it would make the industry more competitive and would benefit not only us, but all Canadian businesses and consumers,” Blouin said.

At least one analyst has said that relaxed rules could mean that Manitoba Telecom (TSX:MBT) could end up selling its Allstream unit, which provides corporate telecom services.

Manitoba Telecom Services acquired Allstream, formerly AT&T Canada which faced restrictive rules when it was operating in Canada, earlier this decade for $1.7 billion.

Relaxing foreign ownership rules could also mean that global telecom companies could set up shop or partner with Canadian telecom companies.

Industry Minister Tony Clement has already announced consultations on foreign ownership, outlining three options — removing all restrictions; increasing the limit of foreign investment from the current 20 to 49 per cent and/or lifting restrictions for carriers with less than 10 per cent market share.

In its financial results, Manitoba Telecom Services reported a 58 per cent increase in profit to $43.4 million in the first quarter, helped by its wireless and broadband services.

Earnings per share were 67 cents, compared with 42 cents in the same quarter in 2010. But operating revenues were down slightly, to $439.3 million from $442 million.

“Our first-quarter results across the company were strong and demonstrate that our strategy is working,” Blouin said in a statement.

“We are focused on driving growth in wireless, IP television, broadband and IP-based services; increasing high-margin on-net sales at Allstream through the expansion of our fibre network and continuing our cost reductions,” Blouin said.

Revenue for the MTS division that provides mobile phone, Internet-Protocol TV, Internet and residential phone services was $235 million versus $228 in the same period last year.

Wireless revenues were up 9.7 per cent to $84 million, mainly due to high data usage. Revenues for services such as Internet protocol television and Internet services were up 7.2 per cent to $47.7 million.

MTS said it had 483,722 wireless subscribers, up more than five per cent in the quarter. Average revenue per user was $57.73, up 3.6 per cent.

The Allstream unit had total revenues of $204.7 million, down 4.5 per cent from the same quarter last year.

But revenues from Internet-protocol based services to businesses were up 7.9 per cent to $57.5 million due to winning service contracts with new clients.

“This solid increase in IP sales activity continued into 2011, supporting sales levels that are expected to result in double-digit revenue growth in 2011,” the company said.

Long-distance and legacy data services at Allstream dropped 10 per cent to $56.1 million in the quarter.

Desjardins Financial analyst Maher Yaghi said the results for MTS were in line with his expectations.

“We continue to believe that the MTS division is of higher importance than Allstream given its greater contribution to profitability,” Yaghi wrote in a research note.

“The Allstream business does appear to be a turning a corner following a tough period for the company during the recession,” he said.

Shares in Manitoba Telecom Services were up 29 cents at $31.11 in trading on the Toronto Stock Exchange.

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###

Video Link: http://youtu.be/f_kk7WJa7Uk

Dominion Lending Centres Clearlease Reports Manitoba Telecom says removing foreign ownership rules would bring it benefit

VANCOUVER, BRITISH COLUMBIA – (May 4, 2011) Clearlease Reports Manitoba Telecom’s chief executive said Wednesday that he expects the new majority Conservative government in Ottawa to act quickly to ease foreign ownership restrictions on the Canadian telecom industry.

Greater foreign investment would increase the ability of Manitoba Telecom Services (TSX:MBT) and others to raise capital and form strategic partnerships, CEO Pierre Blouin told a conference call.

“The removal of foreign investment restrictions would expand the range of strategic alternatives available for raising capital and forming strategic partnerships that strengthen our business and increase value,” Blouin told analysts after the company reported a 58 per cent jump in its first-quarter profit.

“We believe that it would make the industry more competitive and would benefit not only us, but all Canadian businesses and consumers,” Blouin said.

At least one analyst has said that relaxed rules could mean that Manitoba Telecom (TSX:MBT) could end up selling its Allstream unit, which provides corporate telecom services.

Manitoba Telecom Services acquired Allstream, formerly AT&T Canada which faced restrictive rules when it was operating in Canada, earlier this decade for $1.7 billion.

Relaxing foreign ownership rules could also mean that global telecom companies could set up shop or partner with Canadian telecom companies.

Industry Minister Tony Clement has already announced consultations on foreign ownership, outlining three options — removing all restrictions; increasing the limit of foreign investment from the current 20 to 49 per cent and/or lifting restrictions for carriers with less than 10 per cent market share.

In its financial results, Manitoba Telecom Services reported a 58 per cent increase in profit to $43.4 million in the first quarter, helped by its wireless and broadband services.

Earnings per share were 67 cents, compared with 42 cents in the same quarter in 2010. But operating revenues were down slightly, to $439.3 million from $442 million.

“Our first-quarter results across the company were strong and demonstrate that our strategy is working,” Blouin said in a statement.

“We are focused on driving growth in wireless, IP television, broadband and IP-based services; increasing high-margin on-net sales at Allstream through the expansion of our fibre network and continuing our cost reductions,” Blouin said.

Revenue for the MTS division that provides mobile phone, Internet-Protocol TV, Internet and residential phone services was $235 million versus $228 in the same period last year.

Wireless revenues were up 9.7 per cent to $84 million, mainly due to high data usage. Revenues for services such as Internet protocol television and Internet services were up 7.2 per cent to $47.7 million.

MTS said it had 483,722 wireless subscribers, up more than five per cent in the quarter. Average revenue per user was $57.73, up 3.6 per cent.

The Allstream unit had total revenues of $204.7 million, down 4.5 per cent from the same quarter last year.

But revenues from Internet-protocol based services to businesses were up 7.9 per cent to $57.5 million due to winning service contracts with new clients.

“This solid increase in IP sales activity continued into 2011, supporting sales levels that are expected to result in double-digit revenue growth in 2011,” the company said.

Long-distance and legacy data services at Allstream dropped 10 per cent to $56.1 million in the quarter.

Desjardins Financial analyst Maher Yaghi said the results for MTS were in line with his expectations.

“We continue to believe that the MTS division is of higher importance than Allstream given its greater contribution to profitability,” Yaghi wrote in a research note.

“The Allstream business does appear to be a turning a corner following a tough period for the company during the recession,” he said.

Shares in Manitoba Telecom Services were up 29 cents at $31.11 in trading on the Toronto Stock Exchange.

For more information please visit us at: http://www.clearlease.com/Career-Opportunities.html

About Dominion Lending Centres Clearlease

Dominion Lending Centres Clearlease Commercial (DLC Clearlease/Clearlease.com) is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouer, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers.

You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Alexander Pidgeon, Editor in Chief
Tel: (604) 696-1221 ext. 199
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###

Video Link: http://youtu.be/f_kk7WJa7Uk



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