Mobilicity might have been unable to raise the funds to bid in Tuesday’s AWS-3 spectrum auction because a $200-million financing deal fell through just minutes before the deadline, according to a report by the Financial Post.
The company, which has been in creditor protection since September 2013, received court approval in January to raise the $62 million Industry Canada required as a deposit in the auction.
BCE Inc. announced Wednesday it has extended its LTE service to 120 rural and remote communities in Ontario and Quebec.
The company said in a release it aims to bring LTE connectivity to 98 per cent of Canada’s population by the end of the year, up from 86 per cent today.
The LTE rollout uses the 700 MHz spectrum Bell picked up in last year’s auction, the company said.
Industry Canada released the list of qualified bidders in both the AWS-3 and 2500 MHz spectrum auctions on Friday, with every applicant meeting the qualifications.
Industry Canada said Friday it has approved the transfer of two wireless spectrum licences in Quebec to Telus Corp. from NextWave Wireless Inc.
The licences in question are for WCS spectrum. One licence for Quebec City expires Nov. 23, while the other in Montreal expires April 7 next year, according to a posting on Industry Canada's website.
Providence Equity Partners Inc., an American private equity firm, is interested in a stake in Wind Mobile, according to a Tuesday report from Bloomberg based on unnamed sources.
Providence was involved in the bidding for ownership of BCE Inc. in 2007 and has investments in several telecom-related businesses including data centre operator Q9 Networks.
Analysts speculated Wednesday about the possibility of Quebecor Inc. stepping up to purchase Mobilicity following a report that Telus Corp. has withdrawn its offer.
An article, which appeared on the Globe and Mail’s website on Wednesday, said Telus has taken its $350-million bid for Mobilicity off the table.
AT&T subsidiary NextWave Broadband LLC has registered to lobby the federal government, The Lobby Monitor reported (Lobby Monitor subscribers only) on Wednesday.
Grant Buchanan, a consultant and lawyer with McCarthy Tétrault LLP in Toronto, registered to lobby on May 5 on behalf of NextWave Broadband LLC, which is part NextWave Wireless Inc., a developer of wireless broadband products and technologies for mobile devices and network operators.
The $350-million bid by Telus Corp. for Mobilicity could set up a test of Industry Canada’s regulatory power over the sale of wireless spectrum and competition within the wireless industry, according to one expert.
The deal, announced late Thursday night, is the third attempt by Telus to buy the new entrant carrier, which entered bankruptcy protection in September.
Bids in Industry Canada’s 700 MHz spectrum auction topped $7 billion, according a report in the Globe and Mail.
The article published on the Globe’s website Tuesday evening reported sources as saying the top bids of every company involved in the auction, for which results were announced last Wednesday, totalled $7.44 billion.
The total proceeds that companies agreed to pay was $5.27 billion.