Fed Decision on Mobilicity Buy "Unfortunate" Says TELUS

TELUS Corp. has referred to the federal government's recent decision not to approve its proposed acquisition of Mobilicity, a.k.a. Data & Audio-Visual Enterprises Wireless Inc., for $380 million as "unfortunate." In an official response, TELUS said the decision has now created "considerable uncertainty" for Mobilicity's customers, employees and debt holders "due to the pressing financial challenges facing the company." The Toronto-based mobile service provider has been backed by U.S. private equity firm Quadrangle Capital Partners since 2008. .

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