Competition Bureau OKs acquisition of Public Mobile by Telus

The federal Competition Bureau has approved the purchase of Toronto-based wireless telecom services provider Public Mobile Inc by Telus Corp (TSX: T). The undisclosed acquisition deal was announced in October, and will provide exits to Thomvest Seed Capital and Cartesian Capital, which bought Public Mobile from other private equity and venture capital firms, including OMERS Private Equity, earlier this year. In its ruling, the Bureau concluded that "the proposed transaction is unlikely to lead to a substantial lessening or prevention of competition" in affected areas of operation.

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