Canadian telecom Telus (TU) in mid-May agreed to purchase rival Mobilicity for $380M; today the...
Canadian telecom Telus (TU) in mid-May agreed to purchase rival Mobilicity for $380M; today the Ottawa government said no. Though Mobilicity debtholders had already signed off on the deal, which would have provided continuous coverage for the company's wireless customers, the Canadian government intends to uphold the rule under which new carriers such as Mobilicity were issued spectrum to increase competition - it cannot be sold until 2014 at the earliest. Telus expressed disappointment but seems to accept that the plug has been pulled.
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