Mobilicity, which is legally known as Data & Audio-Visual Enterprises Holdings Inc., has officially “adjourned the debtholder vote on the previously announced recapitalization plan.” The startup wireless company has been looking for a buyer for many months and is currently talking to “multiple parties in connection with an acquisition plan of arrangement.”
Previously we thought TELUS will end-up owning the carrier alongside its 250,000 subscribers, 150 employees and valuable spectrum. As we know, nothing has happened and Mobilicity is now looking elsewhere for a buyer.
Among those interested in making a deal with Mobilicity is another smaller Canadian operator, WIND Mobile, which may be looking to merge its operations with its rival to benefit from economies of scale. Another contender is Verizon as it may be looking to expand to the North. The Big Red carrier has all the money to make Mobilicity (or however it ends up calling) one of the Canada’s biggest operators.
We’ll make sure to get back to you as soon as we have something new to add to this story…