Vancouver based Telus Corp. has come to terms to purchase Mobilicity for $350 million.
The proposed sale is still subject to approval by Mobilicity’s debtholders, the Ontario Superior Court of Justice, the Competition Bureau and Industry Canada.
This isn’t the first time Telus has tried to purchase Mobilicity. In two previous attempts, the deal was nixed by Industry Canada.
Mobilicity believes third times a charm and that this deal will satisfy Industry Canada’s criteria and will not affect competition in the Canadian wireless sector.
The majority of Mobilicity’s 165,000 active subscriber base will be able to easily migrate onto Telus’ network once the deal has been made.
Credit: TELUS Garden / Henriquez Partners Architects