Toronto, Canada-based TSB International Inc will spin off its telecommunications management services into a separate publicly- traded entity. The shares of the new management services business will be issued to TSB shareholders in a tax-free dividend, and the deal should be finalized by mid-year. The company said although both its businesses provide telecommunications management systems, they don’t have much else in common. It added that the business being spun off is a rapidly-growing start-up which faces different challenges.
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