According to a report from CBC News, the deal carries a price tag in excess of $440 million. Other terms of the agreement include the sale of Mobilicity’s eastern Ontario and Ottawa-area to Wind Mobile, another smaller provider. The financial terms of this sale have yet to be disclosed.
Mobilicity, which has struggled to stay afloat in what has become a crowded and highly competitive market, has been under the protection of its creditors since September 2013. The majority of the smaller carrier’s 157,000 customers are based in major cities across Canada, including Calgary, Edmonton, Ottawa, Vancouver and the Greater Toronto Area.
The company made headlines when it launched in 2009, as it had purchased the highly lucrative AWS-1 spectrum in a government auction the year before. This spectrum was instrumental in the launch of other smaller, boutique-style wireless carriers in Canada.
Although Industry Canada and Mobilicity have greenlighted the deal, final approval from the Canadian Competition Bureau is still pending.
Mobilicity has been involved in other purchase efforts in the past. The provider had agreed to be acquired by Telus in 2013 for a reported $380 million and again the following year for $350 million. However, both deals were swiftly rejected by the federal government, on the grounds that they would have resulted in a single carrier having an excessive amount of mobile infrastructure.
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