TORONTO – Mobilicity has once again postponed its debtholder vote on its recapitalization plan to July 10.
This is the second time the vote has been postponed from its original June 27 date.
Mobilicity president and COO Stewart Lyons said in a statement the vote was rescheduled to allow the board to consider “potential alternatives” for the company.
Last month, the Globe and Mail reported that the company was in acquisition talks with Verizon. The American telco has also put forward a $700 million bid for Wind Canada. Mobilicity has been seeking another buyer…
Continue Reading
TORONTO – A group of Canadian telcos, including Rogers, Bell, and Telus, have filed a court motion seeking leave to appeal from certain sections of the CRTC’s wireless code they say are unclear about when the code actually comes into effect.
In a motion filed by the Big Three, along with MTS Inc., NorthernTel, SaskTel, Télébec, and Société en Commandite, the companies contend that the CRTC overstepped its jurisdiction by attempting to make the code “retrospectively applicable” to wireless contracts that were created before the code comes into effect on December 2, 2013.
Continue Reading
VANCOUVER, BC – Telus announced today that the Galaxie music app that’s already included with its Optik TV service is now available free on smartphones for Optik TV subscribers.
Once the app is downloaded to a smartphone or tablet, Optik TV customers will be able to use the Galaxie Music app by authenticating using their Optik TV accounts, free of charge.
“Customers want choice when it comes to entertainment, especially with their music. Telus is pleased to provide Optik subscribers with a Galaxie Music experience not only on their TVs but through their smartphones as…
Continue Reading
TORONTO – Canadians who bundle their television, Internet and telephone services with the same provider are generally happier customers and are likely to recommend their provider to family and friends, according to a J.D. Power report released Thursday.
According to the Television Provider Customer Satisfaction Study, 83% of customers bundle their TV and Internet service with the same provider, while 17% subscribe to just TV service with their telecom provider. Among customers who bundle, 59% also have telephone service with their provider—commonly referred to as a triple-play package.
(The Television Provider Customer Satisfaction Study measures overall satisfaction with television providers based…
Continue Reading
THE BIG NEWS WEDNESDAY was that American telco Verizon has made a real offer to buy Wind Canada from its majority owner, VimpelCom. The Globe and Mail cited sources who claim that the big U.S. firm has put an opening bid of $700 million on the table and is also talking to Mobilicity about a potential purchase of that distressed company.
The speculation (nobody from any of the companies will confirm anything at this point, beyond reports last week from Verizon CFO Fran Shammo that the company is taking a peek north) caused Canadian telecom shares…
Continue Reading
TORONTO – New York-based Verizon Communications is setting its sights on entering the Canadian market by reportedly offering to acquire Wind Mobile for $700 million.
Citing “two people familiar with the situation,” the Globe and Mail today reported that the U.S. carrier has also held recent talks with Mobilicity’s stakeholders to discuss a potential acquisition.
With a market cap of US$135 billion and an estimated US$10.8 billion in free cash flow, the odds of successfully entering the Canadian market would be in Verizon’s favour, according to analyst Dvai Ghose of Canaccord Genuity. By purchasing…
Continue Reading
TORONTO – Mobilicity’s parent company DAVE Wireless announced today that it is rescheduling its debtholders’ vote of Mobilicity’s recapitalization plan to July 3, 2013.
In a release, the company said the date change for the vote, which had been previously scheduled for June 25, would give stakeholders a chance to assess prior to the vote what impact, if any, Industry Canada guidelines regarding the transfer of wireless spectrum would have on Mobilicity’s recapitalization plan. The guidelines are anticipated to be released by the end of this month.
Earlier this month, the federal government rejected…
Continue Reading
WINNIPEG – MTS announced this week it has completed its 4G LTE wireless network expansion to Portage la Prairie, the third of six rural Manitoba communities that are scheduled to receive MTS’s 4G LTE network service in 2013.
Last month, MTS announced plans to expand its 4G LTE wireless network to six communities in 2013, including Selkirk, Portage la Prairie, Steinbach, Ste. Anne, Grand Beach and Victoria Beach.
www.mts.ca/4glte
Continue Reading
TORONTO – The realities of the wireless market in Canada and globally continue to tell most people that no matter what the federal government tries or what anyone says, chances are slim that a fourth viable wireless player in Alberta, B.C. and Ontario will find success.
Add BMO Capital Markets telecom, cable and media analyst Tim Casey to the chorus of those who believe the federal government has muddled and mishandled the wireless file and that there doesn’t seem to be a way forward to its stated political goals. Noting that Industry Minister Christian Paradis has been on record several…
Continue Reading
OTTAWA – Orascom Telecom announced Wednesday it has withdrawn its application for Investment Canada Act approval of its acquisition of control of Wind Mobile Canada.
Back in January, Orascom announced it would take full control of the nascent Canadian wireless company in a deal which would have seen company CEO Tony Lacavera transfer all of his shares to the foreign owner and resign as CEO. The agreement followed changes to the foreign investment rules by the federal government that frees up telecom companies with less than 10% market share to have no restrictions on foreign ownership….
Continue Reading
