Posted by: youngragingbull | May 28, 2013

Ontario court approves sale of Mobilicity to Telus

Another hurdle in Telus’ $380 million takeover of rival Mobilicity has been jumped as an Ontario court approved the deal on Tuesday.

The deal has already been approved by Mobilicity’s bondholders leaving only regulatory approval from Canada’s Competition Bureau and Industry Minister Christian Paradis to finalize the deal.

The transaction is expected to close later this year.

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