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Thread: Mobilicity Requesting Further Extension

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    Mobilicity Requesting Further Extension

    http://www.thestar.com/business/tech...extension.html


    Wireless service provider Mobilicity will appear before a judge on Feb. 26 to request another extension of its protection from creditors, chief restructuring officer William Aziz said Tuesday.

    He said an affidavit will be filed in Superior Court on the Wednesday, the day the carrier’s current stay expires, although he said the length of added time to be requested has not been determined.

    Aziz said the company, whose legal name is Data & Audio Visual Enterprises Wireless, has an untouched line of debtor-in-possession funding sufficient to maintain operations.

    He reiterated that the GTA-based company has received expressions of interest to acquire all of part of its business.

    Observers said a transaction that sees one company buy Mobilicity’s customer base of about 175,000, its cell towers and other infrastructure and another buying its radio wave spectrum could ultimately emerge.

    Aziz said Mobilicity has not tabled a new request with Industry Canada for a transfer of its spectrum licenses.

    B.C.-based telecom Telus has sought to acquire the spectrum but Ottawa has said it will reject spectrum transfers that would lessen competition in the mobile industry.

    Mobilicity was granted protection at the end of September after its attempt to win market share from incumbent carriers with discount offerings triggered steep losses.

    Mobilicity, which operates in Toronto, Ottawa, Calgary, Edmonton and Vancouver, is pursuing a sale under court-appointed monitor Ernst & Young LLP

    In an earlier affidavit Mobilicity said it has “maintained stability” and implemented cost reductions, including moving its head office out of Vaughan and into a “smaller premises” in Woodbridge, and has “terminated certain employees who’s services were no longer required.”

    Mobilicity creditor Catalyst Capital Group Inc. has said it would consider supporting a merger of Mobilicity and another smaller carrier, Wind Mobile to form a fourth major competitor in Canada’s wireless market.

    Wind has reportedly bid $190 million for Mobilicity, and Scotiabank analyst Jeff Fan has said in a note that Quebecor, owner of wireless operator Vidéotron, has signed a non-disclosure agreement with Mobilicity.

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    Is this saga ever going to end
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    Quote Originally Posted by ijcy View Post
    Is this saga ever going to end
    I'm hoping this means that they've secured a buyer and need time to sort the details out. From what I've been reading recently Telus is almost certainly out and Videotron weren't particularly serious, that could possibly leave WIND flying solo but then their financing looks doubtful. Guess we'll have to wait a bit longer to find out.

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    Quote Originally Posted by Mann Incognito View Post
    I'm hoping this means that they've secured a buyer and need time to sort the details out. From what I've been reading recently Telus is almost certainly out and Videotron weren't particularly serious, that could possibly leave WIND flying solo but then their financing looks doubtful. Guess we'll have to wait a bit longer to find out.
    Do not write off VT yet until 5 pm today (EST) re the announcement of the bidding result for 700 MHz. If VT is in (for ON /BC) , it has to deploy (at huge expense) or buy out Mobi or Wind.

    Daniel

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    Quote Originally Posted by ijcy View Post
    Is this saga ever going to end
    there's still money in the pot.

    the process costs $250,000/week.

    it'll be clear soon enough.

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    This process is like the movie groundhog day.

    Sent from my Nexus 4 using HowardForums

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    Quote Originally Posted by will888 View Post
    This process is like the movie groundhog day.

    Sent from my Nexus 4 using HowardForums
    Right?! lol that's what i was saying.

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    Quote Originally Posted by dtong22 View Post
    Do not write off VT yet until 5 pm today (EST) re the announcement of the bidding result for 700 MHz. If VT is in (for ON /BC) , it has to deploy (at huge expense) or buy out Mobi or Wind.

    Daniel
    I'm sure you all saw this, but - Videotron did buy into Ontario/BC, so, that's a good sign on that front.

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    Quote Originally Posted by reveries3 View Post
    I'm sure you all saw this, but - Videotron did buy into Ontario/BC, so, that's a good sign on that front.
    Videotron - Spectrum in Ontario/BC AND Alberta and its home province of Quebec. Makes sense for a play on Mobi now to acquire more spectrum and existing customer base in the other provinces.

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    Quote Originally Posted by reveries3 View Post
    I'm sure you all saw this, but - Videotron did buy into Ontario/BC, so, that's a good sign on that front.
    And Alberta

    It's a very good sign. With the $233M for spectrum today and the $200M bid in for Mobilicity, Videotron has demonstrated serious intentions. Mobilicity has apparent good reason to request the extension, and will likely get it.

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    And considering the announcement that Public Mobile customers are being reduced from unlimited data to 1 gig per month - confirming everyone's logical suspicions that Telus wouldn't grandfather plans - Videotron is looking better and better. Not that VT could be relied upon to grandfather plans, by any means - but I'd like to think they'd be more inclined to do so than Telus, who wouldn't really care much about losing a few hundred thousand customers. VT wouldn't want to lose whatever customers it managed to have, so it could have at least some foothold while establishing itself seriously. Or maybe they would. Or maybe Wind will buy them. Or maybe Telus will weasel its way in. Or maybe the sky will fall tomorrow. Who knows. I wish it'd resolve itself, in any case.

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    ^agreed wish we would know mobi's plan by now

    but don't think vt would be much nicer than telus... we will just adapt to saying big4....same old sh:t...

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    Quote Originally Posted by markj View Post
    we will just adapt to saying big4....same old sh:t...
    Corporations are not charities; assuming Wind was managed by a competent leader they would have been big4 anyways
    Quite frankly Videotron is very different than the big3 anyways
    It is sad I need to state the obvious but some people just don't get it. Any posts I make are my own OPINIONS and in no way represent the views of my employer

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    Quote Originally Posted by reveries3 View Post
    And considering the announcement that Public Mobile customers are being reduced from unlimited data to 1 gig per month - confirming everyone's logical suspicions that Telus wouldn't grandfather plans - Videotron is looking better and better. Not that VT could be relied upon to grandfather plans, by any means - but I'd like to think they'd be more inclined to do so than Telus, who wouldn't really care much about losing a few hundred thousand customers. VT wouldn't want to lose whatever customers it managed to have, so it could have at least some foothold while establishing itself seriously. Or maybe they would. Or maybe Wind will buy them. Or maybe Telus will weasel its way in. Or maybe the sky will fall tomorrow. Who knows. I wish it'd resolve itself, in any case.
    They changed it now to: “If you do go over 1 GB, you will notice a slowdown in your service after a reasonable buffer.” i.e. throttling.

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    Quote Originally Posted by ijcy View Post
    They changed it now to: “If you do go over 1 GB, you will notice a slowdown in your service after a reasonable buffer.” i.e. throttling.
    Scary... how much slower can they cap CDMA?

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