{"id":7484,"date":"2014-04-19T20:43:15","date_gmt":"2014-04-19T12:43:15","guid":{"rendered":"https:\/\/canadianinquirer.net\/v1\/?p=7484"},"modified":"2014-04-19T20:43:15","modified_gmt":"2014-04-19T12:43:15","slug":"mobilicity-says-telus-to-acquire-company-for-350-million-in-proposed-sale","status":"publish","type":"post","link":"https:\/\/canadianinquirer.net\/v1\/2014\/04\/19\/mobilicity-says-telus-to-acquire-company-for-350-million-in-proposed-sale\/","title":{"rendered":"Mobilicity says Telus to acquire company for $350 million in proposed sale"},"content":{"rendered":"

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Photo: Facebook Page Telus<\/em><\/p>\n

TORONTO – Mobilicity says it has agreed to be purchased by Telus Corp. (TSX:T) for $350 million.<\/p>\n

Mobilicity says the proposed sale is subject to approval by the Ontario Superior Court of Justice, the Competition Bureau, Industry Canada, and Mobilicity’s debtholders.<\/p>\n

Telus has twice tried to buy struggling Mobilicity, but both times the deal was rejected by Industry Canada.<\/p>\n

“We will not approve spectrum-transfer requests that decrease competition in our wireless sector,” Jake Enwright, a spokesman for Industry Minister James Moore, said Friday.<\/p>\n

This time, however, Mobilicity says it believes the deal will satisfy the federal agency’s criteria and will not affect competition in the Canadian wireless sector.<\/p>\n

The company also says the “vast majority” of its 165,000 active subscribers would be able to seamlessly migrateonto Telus’ network after the transition.<\/p>\n

Mobilicity also says it there are “no foreseen changes to employee staffing levels” under the proposed transaction.<\/p>\n

“The transaction is a good outcome from Mobilicity’s restructuring efforts and extensive sales process,” said William Aziz, Mobilicity’s chief restructuring officer.<\/p>\n

“I am confident the transaction will serve the best interests of Mobilicity’s customers and employees.”<\/p>\n

Mobilicity has been operating under creditor protection since September 2013.<\/p>\n

The company has been seeking a buy and had contacted 25 organizations about submitting bids. Five bids were received by the Dec. 16, 2013 extended deadline and only the Telus bid was deemed acceptable.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Photo: Facebook Page Telus TORONTO – Mobilicity says it has agreed to be purchased by Telus Corp. (TSX:T) …<\/p>\n","protected":false},"author":44,"featured_media":7485,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[2316],"class_list":["post-7484","post","type-post","status-publish","format-standard","has-post-thumbnail","category-news-ca","tag-telus","mauthors-the-canadian-press"],"_links":{"self":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/7484","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/comments?post=7484"}],"version-history":[{"count":0,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/posts\/7484\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media\/7485"}],"wp:attachment":[{"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/media?parent=7484"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/categories?post=7484"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/canadianinquirer.net\/v1\/wp-json\/wp\/v2\/tags?post=7484"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}