TORONTO (Reuters) – Telus Corp, one of Canada’s biggest wireless phone companies, said on Thursday it will pay C$380 million ($370 million) for debt-laden Mobilicity, testing the resolve of a government committed to opening the market to smaller players.
The deal, already backed by some Mobilicity debt holders, must now wind its way through a regulatory obstacle course involving several agencies and approval is far from certain. But the two companies suggested the alternative was death for the loss-making upstart.
TORONTO, May 16 (Reuters) – Telus Corp, one of
Canada’s biggest wireless telephone companies, on Thursday said
it will pay C$380 million ($370 million) to acquire Mobilicity,
a recent entrant to the industry that helped force prices down
but failed to draw many customers.
Privately-held Mobilicity, whose formal name is Data &
Audio-Visual Enterprises Holdings Inc, has been losing money and
approached Telus because of its “strong customer focus,”
Mobilicity said in a statement.
TORONTO, May 10 (Reuters) – TMX Group Ltd, the
operator of the Toronto Stock Exchange, reported a
better-than-expected profit for the first quarter and said
revenue rose 6 percent despite a tough economic backdrop that
weighed on trading volumes and issuance.
But the comparison to year-ago results is complicated by the
fact that TMX was acquired in September by a consortium of
Canadian financial institutions who also rolled in the smaller
Alpha exchange and Canadian Depository for Securities Ltd, a