Mobilicity in takeover talks

Mobilicity in takeover talks

Canadian wireless operator Mobilicity has today confirmed it is in discussions with a number of firms regarding its potential acquisition, Reuters reports.

Verizon is among those the struggling Canadian company is conversing with, and Mobilicity said in a statement that it was “working diligently to reach an acquisition agreement”.

According to sources, Verizon has already made a bid for Mobilicity’s rival Canadian operator, Wind Mobile, although this is not confirmed.

Mobilicity has also delayed its debt holder vote on a previously announced recapitalisation strategy, following the discussions.

Earlier this year, TELUS withdrew its offer for Mobilicity, and Orascom revoked its bid for Wind Mobile, both of which echo the concerns of start-up operator Public Mobile, which is vying for increased consolidation in the Canadian market.

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