Mobilicity proposes Obelysk-backed plan to keep brand operational
Employees and the founder of Canadian wireless telecom provider Mobilicity have made a proposal to the federal government to acquire the company's subscribers, dealers, and partial infrastructure via a mobile virtual network operator structure. The deal is intended to keep the company's brand operational in its current markets and allow it to restructure. Obelysk, a private equity firm owned by Mobilicity founder John Bitove, would provide the necessary funding. Reuters recently reported that Telus Corp and Rogers Communications Inc are currently making bids to buy Mobilicity. Since 2008, the company has been backed by U.S. private equity firm Quadrangle Group.
23 June 2015•3 mins read
