Zayo Reports Progress On $350M Acquisition

Boulder, Colorado-based bandwidth and colocation provider Zayo Group, and Manitoba Telecom Services Inc. said this morning they are making progress on the acquisition of Allstream by Zayo. The deal had originally been announced on November 23rd. Zay said it would pay $350M in cash to acquire Manitoba Telecom's Allstream unit. The two had originally said they would close the deal in the first quarter of 2016. The two said they are now working to "close the transaction expeditiously."