Mobilicity agrees to be sold to Telus

Mobilicity has been under creditor protection since September 2013.

Mobilicity says it has agreed to be purchased by Telus Corp. (TSX:T) for $350 million.

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.

Telus has twice tried to buy struggling Mobilicity, but both times the deal was rejected by Industry Canada.

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.

The company also says the "vast majority" of its 165,000 active subscribers would be able to seamlessly migrate onto Telus' network after the transition.

Telus has twice tried to buy struggling Mobilicity, but both times the deal was rejected by Industry Canada. (Chuck Stoody/Canadian Press)

Mobilicity also says it there are "no foreseen changes to employee staffing levels" under the proposed transaction.

"The transaction is a good outcome from Mobilicity's restructuring efforts and extensive sales process," said William Aziz, Mobilicity's chief restructuring officer.

"I am confident the transaction will serve the best interests of Mobilicity's customers and employees."

Mobilicity has been operating under creditor protection since September 2013.

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.

Anda sedang membaca artikel tentang

Mobilicity agrees to be sold to Telus

Dengan url

http://belajarbisnismen.blogspot.com/2014/04/mobilicity-agrees-to-be-sold-to-telus.html

Anda boleh menyebar luaskannya atau mengcopy paste-nya

Mobilicity agrees to be sold to Telus

namun jangan lupa untuk meletakkan link

Mobilicity agrees to be sold to Telus

sebagai sumbernya