The Financial Post reports in its Wednesday edition tiny wireless player Mobilicity said on Tuesday it will participate in an upcoming government auction of airwaves.
A Reuters dispatch to the Post says the struggling wireless carrier, which sought creditor protection in 2013, has been trying unsuccessfully to find a buyer for months after its attempts to sell to Telus were stymied by the Canadian government, which is seeking to boost competition in the wireless sector.
Mobilicity, formally known as Data & Audio Visual Enterprises, said some of its backers have now agreed to put up the roughly $65-million it needs to buy a seat at the table in the auction of high-frequency AWS-3 spectrum, set to be held in March.
Industry insiders have warned that the attractiveness of Mobilicity to potential suitors wane if competitors secure the spectrum they need in the upcoming auctions of AWS-3 and 2,500-megahertz airwaves, while Mobilicity itself misses out.
The carrier is seeking an extension of its creditor protection status until May 8.
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