Prestige Telecom Inc. has entered into a non-binding letter of intent to acquire all the issued and outstanding shares of Majetel Inc., a Quebec-based company specializing in tower construction and maintenance and project management services.
"The integration of Majetel into Prestige will significantly strengthen our tower construction and maintenance capabilities in Quebec, as well as provide us with new customers and entry into the wind energy business," says Pierre Yves Methot, chairman and CEO of Prestige Telecom.
The transaction is subject to regulatory approval, due diligence, execution of a definitive share purchase agreement and other customary closing conditions. The transaction is expected to close on March 31.
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