Subsequent Events

3 Months Ended

Sep. 30, 2017

Subsequent Events [Abstract]

Subsequent Events

(13) SUBSEQUENT EVENTS

In connection with the Company’s acquisition of 100% of the equity interest in Allstream, Inc. and Allstream Fiber U.S. Inc. (together “Allstream Acquisition”) on January 15, 2016 from Manitoba Telecom Services Inc. (now known as “Bell MTS” as a result of their acquisition by BCE Inc.), Bell MTS agreed to retain Allstream Acquisition’s former defined benefit pension obligations, and related pension plan assets, of retirees and other former employees of Allstream Acquisition and also agreed to reimburse Allstream Acquisition for certain solvency funding payments related to the pension obligations of active Allstream Acquisition employees as of January 15, 2016. On October 31, 2017, Bell MTS transferred assets of CAD $117.9 million (or $91.6 million) from Allstream Acquisition’s former defined benefit pension plans related to pre-closing service obligations for active employees to a new Allstream Acquisition defined benefit pension plans created by the Company. Accordingly, the Company has recognized a pension asset and liability of CAD $117.9 million (or $91.6 million) subsequent to September 30, 2017, which is subject to review and adjustment by Bell MTS and the Company in November 2017.