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August 23, 1988

NEWFOUNDLAND TELEPHONE TO PAY $138.6M FOR TERRA NOVA

By CBR Staff Writer

BCE Inc’s 55%-owned Newfoundland Telephone Co is to pay state owned Canadian National Railways $138.6m – $Can170m – for Terra Nova Telecommunications Inc, which serves 400 rural communities in the province, and will assume $50m of debt: the bid was the best of five received by the railway, which also has Northwest Telephone on the block.

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