Mobilicity’s prospective buyers have been given another week to submit bids for the struggling Canadian mobile operator.
The court-appointed monitor EY said it extended the deadline following requests by qualified bidders.
When EY announced the sale…
Mobilicity’s prospective buyers have been given another week to submit bids for the struggling Canadian mobile operator.
The court-appointed monitor EY said it extended the deadline following requests by qualified bidders.
When EY announced the sale process in November, it proposed that bidders formally register their interest by 2 December and submit their offers by 9 December. It said the swift timetable would be feasible as all or most of the potential bidders would be familiar with the asset and be able to respond quickly.
Mobilicity has until 20 December to restructure or find a buyer after a court decided to extend its creditor protection beyond 30 October. It began this process at the end of September after struggling to satisfy its debt-holders.
Last week the CEO of Canadian operator Wind Mobile was quoted as saying that his company was in the auction process to buy Mobilicity.
Anthony Lacavera told local newspaper the National Post that Mobilicity represented a good opportunity to create a consolidated fourth player.
The Canadian government has indicated it would welcome bids from the likes of Wind, but dominant operators Bell Canada, Rogers Wireless and Telus will not be allowed to acquire Mobilicity and its valuable spectrum.
