Telus abandons takeover of Mobilicity

Tuesday 11 June 2013 | 05:12 CET | News
Telus has abandoned its offer to acquire Mobilicity, after the Canadian government signaled it would block the transfer of Mobilicity's licences to the larger mobile operator. Data & Audio-Visual Enterprises, the holding company for Mobilicity, announced that Telus had exercised its option to terminate the acquisition plan. Mobilicity will now pursue its previously announced recapitalization plan, which will be voted on by debtholders at a meeting on 25 June. The takeover for CAD 380 million was first announced in mid-May. In early June, the government said it would not allow one of the new

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Categories: Mobile & Wireless
Companies: Mobilicity / Telus
Countries: Canada
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