Mobilesyrup is reporting that troubled Canadian carrier Mobilicity is gearing up to auction itself off to the highest bidder. They cite the following from a court document:
Section 8 states an “update on the proposed transaction,” which could be TELUS’ bid to acquire the carrier. TELUS has now attempted twice to bid for Mobilicity and its spectrum, only to be denied on both occasions. Apparently an offer is still being reviewed by Industry Canada and “the Applicants have continued their efforts in furtherance of their proposed acquisition transaction.”
If this “Proposed Transaction” doesn’t pan out, then Mobilicity is planning to go another route and auctioning off their assets to the highest bidder. The court doc reveals that bidders must submit their intent by December 2nd, then after those deemed as a “Qualified Bidder” will start an auction on December 9th.
So, the way I read this is that the Telus deal is not completely dead, but they have another option should it die. Plus there’s options to buy Mobilicity in whole or in part. But one thing is becoming clear, we’re into the endgame with Mobilicity now. Let’s see how it turns out.
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This entry was posted on November 13, 2013 at 11:02 am 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 To Auction Itself?
Mobilesyrup is reporting that troubled Canadian carrier Mobilicity is gearing up to auction itself off to the highest bidder. They cite the following from a court document:
Section 8 states an “update on the proposed transaction,” which could be TELUS’ bid to acquire the carrier. TELUS has now attempted twice to bid for Mobilicity and its spectrum, only to be denied on both occasions. Apparently an offer is still being reviewed by Industry Canada and “the Applicants have continued their efforts in furtherance of their proposed acquisition transaction.”
If this “Proposed Transaction” doesn’t pan out, then Mobilicity is planning to go another route and auctioning off their assets to the highest bidder. The court doc reveals that bidders must submit their intent by December 2nd, then after those deemed as a “Qualified Bidder” will start an auction on December 9th.
So, the way I read this is that the Telus deal is not completely dead, but they have another option should it die. Plus there’s options to buy Mobilicity in whole or in part. But one thing is becoming clear, we’re into the endgame with Mobilicity now. Let’s see how it turns out.
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This entry was posted on November 13, 2013 at 11:02 am 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.