Cable / Telecom News

Mobilicity raises funds for AWS-3 auction


TORONTO – Mobilicity has secured debt financing to allow it to participate in the upcoming AWS-3 spectrum auction.According to a Globe and Mail report, Justice Frank Newbould of the Ontario Superior Court of Justice gave his approval on Wednesday morning to new debtor-in-possession financing of up to $65 million from some of the company’s existing debt holders.  That means that Mobilicity can compete with fellow startup Wind Mobile for spectrum reserved for new entrants already operating in Ontario, British Columbia and Alberta.The AWS-3 auction is set for March 3 and a list of bidders that qualify under the auction rules...