Telus gets approval to acquire Public Mobile
OTTAWA - Telus has received approval from Ottawa to acquire new wireless player Public Mobile, primarily a talk-and-text service with 280,000 customers in Ontario and Quebec.
Federal Industry Minister James Moore says he has approved the transfer of Public Mobile's spectrum licence to Vancouver-based Telus and says the transaction doesn't affect competition in the wireless industry.
Moore says Public Mobile's spectrum â€” radio waves needed to operate cellphone networks â€” isn't used for the latest smartphones and data plans.
Public Mobile bought its spectrum in 2008 and it was never under any restrictions that would prevented it from being sold â€” unlike new players Wind Mobile and Mobilicity which bought a different kind of spectrum that the government doesn't want sold to Rogers (TSX:RCI.B), Bell (TSX:BCE) or Telus (TSX:T).
Telus tried to buy struggling Mobilicity last spring, but the $380-million deal was rejected by Industry Canada.
Financial terms of the deal with Public Mobile, which launched in 2009, have not been disclosed.