The Financial Post reports in its Tuesday edition Newton Glassman's Catalyst Capital Group is willing to finance Mobilicity's bid for more wireless airwaves, along with other willing creditors, in an effort to spur further consolidation among smaller carriers. A Bloomberg dispatch to the Post says participating in the federal government's auction of wireless airwaves next year is the only way to salvage value in Mobilicity, which is currently under creditor protection, Mr. Glassman said. Catalyst is one of Mobilicity's largest creditors. The goal is to have Mobilicity in "as strong of a position as possible for what is the most likely outcome for a merger of two or more of these entities," Mr. Glassman told Bloomberg. The federal government announced earlier this year it will hold another wireless auction in a bid to create greater competition for the Big Three carriers. Sixty per cent of the airwaves, which are designed for data-heavy cellphone traffic, are set aside for new entrants and the government has been pushing for the creation of a fourth national carrier. The last spectrum auction earlier this year netted the government $5.27-billion. Carriers can only bid in regions they already operate in.