The clock is ticking on Mobilicity.
The troubled wireless carrier has until December 20th to find a buyer:
Justice Frank Newbould of the Ontario Superior Court of Justice signed an order Thursday extending the “stay period” during which Mobilicity is shielded from any new or existing legal actions until Dec. 20.
That grace period had been set to expire on Oct. 30, but the company requested additional time to secure the federal government’s approval for a proposed sale. Although Mobilicity has declined to identify its potential buyer, sources say it is in talks with Telus to rekindle a sale process that Ottawa rejected in early June.
And what’s likely not going to help is this:
Separately, it was revealed Thursday that Mobilicity’s president and chief operating officer Stewart Lyons is preparing to leave the company at the end of this month.
The optics of that just suck.
However, if you’re one of the big three and you can work out a deal that the Canadian Government won’t shoot out of the sky, maybe you can get Mobilicity for pennies? Seeing as Telus just bought Public Mobile, anything is possible.
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This entry was posted on October 24, 2013 at 3:11 pm and is filed under Commentary with tags Mobilicity. You can follow any responses to this entry through the RSS 2.0 feed.
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Mobilicity Has More Time To Find A Buyer….President Leaves
The clock is ticking on Mobilicity.
The troubled wireless carrier has until December 20th to find a buyer:
Justice Frank Newbould of the Ontario Superior Court of Justice signed an order Thursday extending the “stay period” during which Mobilicity is shielded from any new or existing legal actions until Dec. 20.
That grace period had been set to expire on Oct. 30, but the company requested additional time to secure the federal government’s approval for a proposed sale. Although Mobilicity has declined to identify its potential buyer, sources say it is in talks with Telus to rekindle a sale process that Ottawa rejected in early June.
And what’s likely not going to help is this:
Separately, it was revealed Thursday that Mobilicity’s president and chief operating officer Stewart Lyons is preparing to leave the company at the end of this month.
The optics of that just suck.
However, if you’re one of the big three and you can work out a deal that the Canadian Government won’t shoot out of the sky, maybe you can get Mobilicity for pennies? Seeing as Telus just bought Public Mobile, anything is possible.
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This entry was posted on October 24, 2013 at 3:11 pm and is filed under Commentary with tags Mobilicity. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.