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Mobilicity wins court approval to accept bids on 9 December

Indebted Canadian cellco Mobilicity won a court order yesterday allowing it to pursue a formal sales process early next month, the Globe & Mail reports. Mobilicity is aiming to solicit interested buyers for all or part of its business, with potential bidders being given until 2 December to register interest and 9 December to submit bids. The government recently disallowed for a second time a proposed takeover of Mobilicity by larger operator Telus. As reported by CommsUpdate, on Monday a court filing noted that several potential bidders have previously conducted due diligence on Mobilicity, therefore indicating that it would be possible to set a short deadline for placing bids, and the Ontario Superior Court of Justice agreed, ruling yesterday that ‘the sales process appears reasonable and is approved.’ Mobilicity’s previously court-sanctioned creditor protection expires on 20 December.

Thanks to TeleGeography for the article.

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Saturday, 15 May 2021

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