Mobilicity & Public Mobile Seeking Buyers - Report

Mobile service provider Mobilicity, a.k.a. Data & Audio-Visual Enterprises Wireless Inc., is in talks with Telus Corp. to be acquired in a deal that could value the company at up to C$400 million, according to The Globe and Mail. Competitor Public Mobile Inc. is also reported as hiring investment bankers to find a purchaser. Mobilicity is a portfolio investment of U.S. private equity firm Quadrangle Capital Partners, while Public Mobile is backed by a mix of Canadian and U.S. venture capital and private equity firms.

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