Indebted Canadian cellco Mobilicity won a court order yesterday allowing it to pursue a formal sales process early next month, the Globe & Mail reports. Mobilicity is aiming to solicit interested buyers for all or part of its business, with potential bidders being given until 2 December to register interest and 9 December to submit bids. The government recently disallowed for a second time a proposed takeover of Mobilicity by larger operator Telus. As reported by CommsUpdate, on Monday a court filing noted that several potential bidders have previously conducted due diligence on Mobilicity, therefore indicating that it would be possible to set a short deadline for placing bids, and the Ontario Superior Court of Justice agreed, ruling yesterday that ‘the sales process appears reasonable and is approved.’ Mobilicity’s previously court-sanctioned creditor protection expires on 20 December.
Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.
Have feedback, corrections, or story ideas? Send them to email@example.com.
Browse Past Issues
Filter CommsUpdate by the following categories or use the search.
Visit our help page information on performing advanced searches, including how to restrict the results by country or company.
CommsUpdate is an outstanding advertising venue for companies seeking to reach:
- International carriers
- Wholesale service providers
- Equipment and software vendors
- Telecom investors