Canada: TELUS to acquire Mobilicity for $380 million

Canada: TELUS to acquire Mobilicity for $380 million

The “Mobilicity saga” is coming to an end with TELUS entering into an agreement with Mobilicity to acquire the company and its 250,000 customers for $380 million. This money will not only be used to pay Mobilicity’s owners but also to satisfy its secured and unsecured debt.

Naturally, the agreement between the two operators is subject to conditions including approval by the Competition Bureau, Industry Canada and Mobilicity’s debtholders. TELUS and Mobilicity have informed the government and regulators and both companies are fully committed to working cooperatively to secure timely approvals for the transaction.

Presuming everything goes as planned, TELUS will retain all 150 Mobilicity employees who will have the opportunity to review and secure permanent, long term roles with TELUS. Moreover, with all these new subscribers, TELUS will emerge as the second-largest mobile operator in Canada, after Rogers Wireless and ahead of Bell Mobility.

We’ll get back to you when the deal is cleared by all parties and when Mobilicity is fully integrated into Telus…

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