Following recent reports that three new Canadian entrants might be for sale, private equity investor Catalyst Capital has emerged as a potential bidder for two of those telcos.
According to the Globe and Mail, Catalyst Capital’s Newton Glassman is…
Following recent reports that three new Canadian entrants might be for sale, private equity investor Catalyst Capital has emerged as a potential bidder for two of those telcos.
According to the Globe and Mail, Catalyst Capital’s Newton Glassman is looking to bid for both Wind Mobile and Mobilicity in order to create a strong combined mobile operator. Wind Mobile is currently the fifth-largest carrier in Canada, while Mobilicity is number eight.
But the PE firm, which reportedly holds some of Mobilicity’s senior debt, may face competition from mobile giant Telus in its bid for the new entrant. Last week, it was reported that Telus could pay up to C$400m (US$395m) for Mobilicity after the two parties signed an exclusivity agreement.
Meanwhile, Russia’s VimpelCom reportedly hired UBS, in late March, to sell Wind Mobile. Public Mobile, the smallest of the new entrants, also hired bankers to engineer a sale. The company could be worth between C$100m (US$99m) and C$150m (US$148m), and a couple of pension funds have looked over the books, according to a source cited in the report.
Catalyst Capital was not immediately available for comment.
