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Telus abandons Mobilicity acquisition

Canadian operator Mobilicity has announced that its proposed acquisition by Telus has been officially abandoned.

Telus agreed to acquire Mobilicity in May for $380m, pending regulatory approval. However, last week Canada’s government blocked Telus’ application to acquire Mobilicity’s spectrum licences, effectively scuppering the deal.

Mobilicity will now revert to its previously announced strategy, the end game of which remains its acquisition. The plan will be voted on by debtholders at a meeting on June 25, 2013.

There is some hope for the Canadian operator as rival Wind Mobile has indicated that it now wants to open talks to buy Mobilicity, according to CEO Anthony Lacavera.

“We are certainly interested in re-opening the discussion with Mobilicity,” he said.

 


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