Court approves Telus deal to buy Mobilicity

VANCOUVER, B.C. – The Ontario Superior Court of Justice today approved Telus’s proposed $380 million acquisition of struggling wireless carrier Mobilicity. The court granted approval for the deal to proceed under the Canadian Business Corporations Act. In a statement, Telus chief marketing officer David Fuller said the decision puts the company “another important step closer to completing this acquisition, which will allow Telus to save the jobs of Mobilicity’s 150 employees and continue service for their 250,000 customers without the disruption that company’s current financial issues could cause.” Telus made the announcement to acquire Mobilicity on May 16. The deal, which...