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Thread: Telus Agrees to acquire Mobilicity, $380M

  1. #1
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    Telus Agrees to acquire Mobilicity, $380M

    http://about.telus.com/community/eng...ire-mobilicity


    Vancouver, B.C. – TELUS has entered into an agreement with Mobilicity to acquire the company for $380 million. If the deal receives the required approvals, it would ensure continued service to Mobilicity’s 250,000 customers without the risk of disruption.

    The agreement between TELUS and the company is subject to conditions including approval by the Competition Bureau, Industry Canada, and Mobilicity’s debtholders. TELUS and Mobilicity have informed the government and regulators and both companies are fully committed to working cooperatively to secure timely approvals for the transaction.

    “A concern for our customers and employees led us to approach TELUS, which has a reputation for a strong customer focus, as evidenced by their industry leading client loyalty,” said Stewart Lyons, Mobilicity President. “I am confident TELUS will look after our employees and our customers, mitigating any disruption to their service, while offering the best outcome for all stakeholders.”

    William Aziz, Mobilicity Chief Restructuring Officer, continued, “Mobilicity has been losing a significant amount of money every month. The financial strength of TELUS will allow the business to be continued in a way that will benefit customers and employees. An acquisition by TELUS is the best alternative for Mobilicity.”

    The entire purchase price will be used to satisfy Mobilicity’s secured and unsecured debt.

    “We look forward to serving Mobilicity’s customers and welcoming their employees to the TELUS team,” said David Fuller, TELUS Chief Marketing Officer.

    If this transaction is approved, TELUS will retain all 150 Mobilicity employees as it integrates the Mobilicity operation into TELUS over the coming months. The employees would have the opportunity to review and secure permanent, long term roles with TELUS.

    TELUS has created 1,700 new jobs in Canada over the last two years alone while bringing 4G wireless coverage to 99 per cent of Canadians coast-to-coast.

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    Ya I just saw that. I wonder how the CRTC is going to react.
    Just loving it.

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    Wow. Looks like we don't need to wait until the May 21 vote now.

    Let's see what conditions the CRTC attaches to this deal.

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    Because the Canadian wireless market really needs more consolidation and less competition...

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    Quote Originally Posted by makuribu View Post
    Because the Canadian wireless market really needs more consolidation and less competition...
    will they be grandfathering all the mobilicity plans and be able to use telus' network coverage?

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    just heard this on the news---not happy......doubt Telus will let us keep our prices, the ONLY reason i signed up with them to begin with
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    i heard it say we would have access but they are not saying anything about us keeping our plans/prices...at least this what i just heard on the news program i was watching, CBC i think it was

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    Its your low prices that lead to mobilicity going bankrupt. I hate to say it but you can't run a cell phone company in this country with rock bottom prices and be successful. The country is too large for the population. Now we all see why Robellus charges higher prices. Wind is not far from meeting the same fate as mobilicity. Shaw saw this coming and wisely stayed away from entering the market.

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    Too bad. Sad to see Mobilicity go from the market. Its low prices did help keep the competition in check and surely aided us as consumers. I'm sure Telus wanted access to the AWS band hence their great interest in Mobilicity. Let us hope our Mobilicity phones have some value.

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    Quote Originally Posted by 1Khalid View Post
    Its your low prices that lead to mobilicity going bankrupt. I hate to say it but you can't run a cell phone company in this country with rock bottom prices and be successful. The country is too large for the population. Now we all see why Robellus charges higher prices. Wind is not far from meeting the same fate as mobilicity. Shaw saw this coming and wisely stayed away from entering the market.
    While it's true that low prices lead to this, I'm not so sure TELUS couldn't continue to offer them. While these low prices aren't high enough for a provider to build a new network, TELUS already has a profitable one in place. AFAIK building a network is very capital intensive compared with running one.

    Mobilicity also doesn't really subsidize handsets much. TELUS could just keep Mobilicity around and continue to not offer subsidies and their limited footprint with no LTE at their prices provided you're willing to sign a contract or something.

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    Let's see if Newton Glassman (he proposed the Wind/Mobi merger) will put forward a counteroffer. I personally would prefer a "Windibility" rather than a "Telibility" (and I'm a Telus customer).

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    Xtachx, time for you to remind me again that Telus will dump my BTS and replace it with a $80 plan. The upcoming spectrum auction won't be much of an auction. The big 3 will get to buy shares of additional spectrum for less $.

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    Quote Originally Posted by howard View Post
    While it's true that low prices lead to this, I'm not so sure TELUS couldn't continue to offer them. While these low prices aren't high enough for a provider to build a new network, TELUS already has a profitable one in place. AFAIK building a network is very capital intensive compared with running one.

    Mobilicity also doesn't really subsidize handsets much. TELUS could just keep Mobilicity around and continue to not offer subsidies and their limited footprint with no LTE at their prices provided you're willing to sign a contract or something.
    Also, if this is the case is it time for non-Mobilicity customers to get a Mobilicity line to see if it gets grandfathered?

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    now that the cat's out of the bag I truly hope the (insert word here... ignorant, silly, dumb, moronic, dipshiiites, etc...) who wouldn't shut up about mobi going bankrupt and disappearing in 12 weeks and all that nonsense would just leave.


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    I think we're missing one point though in that considering Mobi customers bought out their phones and a large aren't cross compatible with Big 3 3G, Telus can't just convert the AWS to LTE without cutting off the others. I can't see Telus offering to replace customers phones either.

    We will most likely see Telus offer some incentive to switch but it definitely won't be to grandfather the original plans with that pricing unless the feds approve the deal and get them to honor the deals but until when is another question.
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