One of Canada’s most prominent telecom providers, Telus Corp, has been allowed another chance to remove any doubts of the government in its proposed takeover of struggling wireless startup Mobilicity. In an announcement made by Mobilicity on late Thursday, the company revealed to have had a new deal to sell to Telus for C$350 million. Even though a court-appointed monitor has recommended the transaction, the deal still requires the government’s approval to go-ahead.
According to Mobilicity, the deal was reached after Telus submitted the only acceptable bid among five it received. The company announced to have sought proposals from 25 organizations after the government twice blocked attempts by Telus to buy Mobilicity last year. At the time, the government blocked the takeover alleging that the acquisition would create undue concentration of ownership of wireless spectrum. The deal blocked in June would have made Telus pay C$380 million.