Mobilicity's Debtholders OK TELUS Acquisition: CORRECTED

Debt holders in mobile service provider Mobilicity, a.k.a. Data & Audio-Visual Enterprises Wireless Inc., have approved the company's acquisition by Canadian telecommunications company TELUS Corp. for $380 million. As previously announced, the purchase price will be applied to repay all of the company's first and second lien debt, with the remainder being used to repay certain other unsecured debt securities. Mobilicity's other backers include U.S.-based private equity firm Quadrangle Capital Partners.

CanadaNorth AmericaBriefs