Canada's Mobilicity Extends Deadline to Find a Buyer
Published on: 10th Dec 2013
By: Ian Mansfield
Canada's Mobilicity has secured an extension on the deadline for bids to buy the struggling mobile network and its radio spectrum.
In the politically charged bidding, the company was granted an extension until the 16th December to find a buyer.
The government recently said that it would block any deal by one of the big three networks to buy the smaller carrier, even after a lock-out on the spectrum transfer expires.
Telus had previously offered USD356 million to buy the company, which largely paid off its debts, but the government blocked that deal, and also said it would block a second deal that was designed to get around the spectrum transfer embargo.
The only viable buyers now are one of the two other smaller networks, or a fresh investor.