TORONTO – Can court-ordered mediation help pave the way to a deal between and Telus and Mobilicity?
The struggling wireless carrier said late Friday that Industry Canada has agreed to participate in talks “to mediate any outstanding issues relating to the successful completion” of issues related to Mobilicity's CCAA proceedings, which include Telus’ latest $350 million purchase offer.
“If needed, Mobilicity expects that mediation would proceed over the next few weeks”, reads the statement. Those meetings would be mediated by Warren Winkler, a former chief justice of Ontario who was also involved with Nortel Networks and the CanWest/Shaw Cable restructuring.
In addition to Industry Canada’s blessing, any deal between Telus and Mobilicity would also require approvals from the Ontario Superior Court of Justice, the Competition Bureau and Mobilicity's creditors.
Mobilicity, which has been operating under court protection from creditors since September, also announced that the Court granted a stay extension under its current CCAA proceedings until June 30, 2014.
