Mobilicity confirms acquisition talks, adjourns debtholder vote

Wed Jul 10, 2013 8:10am EDT
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TORONTO, July 10 (Reuters) - Canadian wireless startup Mobilicity confirmed on Wednesday that it is in discussions with multiple parties in connection with a potential acquisition.

The struggling company, legally known as Data & Audio-Visual Enterprises Holdings Inc, is in talks with U.S. telecommunications behemoth Verizon Communications Inc, among others, a source told Reuters last month.

Mobilicity also said on Wednesday it has again adjourned its debtholder vote on a previously announced recapitalization plan, in light of the discussions.

The company said it may reconvene the recapitalization plan vote should the talks regarding an acquisition not pan out.