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August 26/2010 -- Naguib Sawiris, head of Orascom Telecom addresses Wind Mobile employees on on August 26, 2010
August 26/2010 -- Naguib Sawiris, head of Orascom Telecom addresses Wind Mobile employees on on August 26, 2010
(1--Sarah Dea/The Globe and Mail)

Manitoba Telecom near sale of Allstream division, says Bay Street chatter

Speculation is growing that Manitoba Telecom Services Inc. may be nearing a sale of its Allstream division.

A major bank has sent a memo to staff citing a story that ran in a U.S. publication called Merger Market that suggests Egyptian billionaire Naguib Sawiris is emerging as a key bidder for Allstream, which has been the subject of a strategic review since last fall.