US integrated telecoms services provider Primus Telecommunications (PTGi) has announced that its Canadian subsidiary, local exchange carrier Globility Communications, is to sell its 3.5GHz fixed wireless spectrum licences in 29 markets across Canada for…
US integrated telecoms services provider Primus Telecommunications (PTGi) has announced that its Canadian subsidiary, local exchange carrier Globility Communications, is to sell its 3.5GHz fixed wireless spectrum licences in 29 markets across Canada for C$15m (US$15.2m).
Primus, which owns a 45.6% stake in Globility, said that the transaction is subject to approval by government department Industry Canada.
Peter Aquino, PTGi CEO, stated: “PTGi is in full agreement with Globility’s decision to monetise these non-core investments. This strongly complements PTGi’s focus of investing in Canada in areas in which we can build sustainable long-term advantage for growth.”
The name of the purchaser was not disclosed.
