Indebted Canadian operator Mobilicity has been given another extension to its creditor protection which gives it until 26 September to find a buyer.
The Ontario Superior Court of Justice granted the request to allow Mobilicity to continue operating for…
Indebted Canadian operator Mobilicity has been given another extension to its creditor protection which gives it until 26 September to find a buyer.
The Ontario Superior Court of Justice granted the request to allow Mobilicity to continue operating for another three months while it works out its options.
The minnow has been searching for an alternative buyer after Telus gave up on acquiring the company due to regulatory pressure, and will have to enact a recapitalisation plan if it cannot sell itself. The deal was effectively blocked by the government, which does not want the three incumbent operators – Telus, Bell and Rogers – to acquire any more spectrum.
Instead it is keen to nurture the creation of a new fourth player in a bid to spark more competition in the mobile market.
Quebecor, which operates regional quad play operator Videotron, now appears the most likely acquirer of Mobilicity. It has laid out its vision to become Canada’s fourth nationwide mobile operator and said it was looking to consolidate with willing partners.
