Mobilicity officially launches auction to find bidders as sale process finally gets underway

by Andrew Roach on November 13, 2013

Mobilicity’s problems have mounted considerably over the past few months and a sale has been on the cards for the last couple of months.

It’s no surprise then that the struggling wireless carrier has now finally begun the sales process as they look to find a buyer to give the company a chance of surviving into next year.

The company are planning to hold an auction for their assets and financial monitors Ernst & Young have launched a quest to allow the process to go ahead.

Once approved, it would mean that potential bidders would have until December 2 to register to participate in the auction for some or all of the company.

It’s no real surprise to see that Mobilicity have begun the sales process especially as the company has been open to bids since the start of June.

There is still a bit of uncertainty about how the company will be sold but there are already several bidders reportedly interested in bidding as they look to get hands on Mobilicity’s wireless spectrum licenses.

The majority of thee launches are located in Ontario but the company does have a presence in most provinces which could be a major stepping stone for some of the smaller networks to consolidate their position in the national market.

However, several bigger names are also expected to participate in the auction including Telus who have been the closest to buying Mobilicity outright over the last few months.

A deal had been thought to have been reached between the two parties before Industry Canada rejected the deal as it was deemed to be unfair to rival competitors.

With the sale process now firmly underway, it seems that Mobilicity’s date with destiny is approaching and it could severely alter the shape of the Canadian wireless market for 2014.

Did you like this post ? publishes daily news, editorial, thoughts, and controversial opinion – you can subscribe by: RSS (click here), or email (click here).

Written by: Andrew Roach Follow by: RSS, Twitter, Facebook, or YouTube

{ 2 trackbacks }

WIND Mobile announces participation in Mobilicity sale auction —
December 5, 2013 at 5:54 am
Mobilicity auction deadline extended by one week —
December 11, 2013 at 5:20 am

{ 0 comments… add one now }

Previous post:

Next post: