Pension plan lawsuit implementation plan agreement approved by Court

WINNIPEG, Nov. 3, 2014 /CNW/ - Manitoba Telecom Services Inc. (TSX: MBT) (the "Company" or "MTS Allstream") today announced that the Court of Queen's Bench has approved the agreement reached with its MTS' unions and retiree representatives, which was previously announced by the Company on September 24, 2014, in respect of the implementation of the lawsuit regarding the administration of one of MTS's pension plans, which was the subject of a decision of a Supreme Court of Canada ruling on January 30, 2014 and involved events that occurred in connection with the Company's privatization in 1997. 

"We are pleased that this matter is now behind us and we are moving forward with the full support of our unions and retiree representatives," said Pierre Blouin, the Company's Chief Executive Officer.

About Manitoba Telecom Services Inc. (MTS Allstream)

MTS Allstream is one of Canada's leading national communication solutions companies, providing innovative communications for the way Canadians live and work today. The company has more than 100 years of experience, with approximately 5,000 employees across Canada. MTS Allstream's business is dynamic and consists of two operating divisions. In Manitoba, MTS is the leading full-service telecommunications provider for residential and business customers. MTS's suite of services includes the latest in wireless technology, broadband services, IPTV, voice services, home security, and an extensive range of business solutions. Across Canada, Allstream is a leader in IP communications and is the only national provider that focuses exclusively on the business telecommunications market. MTS Allstream has nearly two million customer connections spanning business customers across Canada and residential consumers throughout the province of Manitoba. The Company's extensive national fibre optic network spans more than 30,000 kilometres. MTS Allstream has spent 13 consecutive years on the Jantzi Social Index for leadership in social responsibility and is the recipient of the 2014 Best Overall Governance Award by the Canadian Society of Corporate Secretaries, recognizing a high level of effectiveness across the three pillars of governance, risk and compliance, and the 2011 Governance Gavel Award from the Canadian Coalition for Good Governance, recognizing clear and effective public disclosure and leading governance practices.

MTS Allstream's common shares are listed on the TSX (trading symbol: MBT). Customers, stakeholders and investors who want to learn more about MTS Allstream are encouraged to visit: www.mtsallstream.com.

For more information about MTS's products and services, please visit www.mts.ca. For more information about Allstream's products and services, please visit www.allstream.com.

Forward-looking Statements Disclaimer

This news release includes forward-looking statements and information (collectively, the "statements") about matters in this news release that are subject to risks, uncertainties and assumptions, including the potential that a third party (who is not a party to the litigation) attempts to appeal this decision within the subsequent 30 day appeal period. As a consequence, actual results in the future may differ materially from any conclusion, forecast or projection in such forward-looking statements. Therefore, forward-looking statements should be considered carefully and undue reliance should not be placed on them. Examples of statements that constitute forward-looking information may be identified by words such as "believe", "expect", "project", "should", "anticipate", "could", "target", "forecast", "intend", "plan", "outlook", "see", "set", "pending", and other similar terms.

Factors that could cause anticipated opportunities and actual results to differ materially include, but are not limited to, matters identified in the "Material assumptions" section and the "Risks and uncertainties" section in the Company's 2013 Annual MD&A and 2013 Annual Information Form, both of which are available on SEDAR at www.sedar.com.

Please note that forward-looking statements reflect Management's expectations as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE: Manitoba Telecom Services Inc.

Media: Melanie McKague, Corporate Communications, 204-941-8576, [email protected]; Investors: Paul Peters, Investor Relations, 204-941-6178, [email protected]