Ontario Government Sells Provincially Owned Telecom Company Ontera

The government of Ontario is receiving criticism for selling provincially owned telecommunications company Ontera. Why? The sale resulted in a loss of $61 million. Despite the controversy, Northern Development Minister Michael Gravelle says it was a “necessary decision” which will be positive for taxpayers. Bell Aliant purchased the company in question for $6.3 million, whereas the Ontario government paid $6.5 million for the consultants, lawyers and others advising them on the sale alone. The loss, according to a Public Accounts report comes from a “disposal of shares of Ontera” because “the government provided a one-time contribution of $52,092,000 to support

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