Telus says agrees to buy start-up Public Mobile

Wed Oct 23, 2013 5:39pm EDT
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TORONTO Oct 23 (Reuters) - Telus said on Wednesday it has agreed to buy 100 percent of Canadian telecom startup Public Mobile from private equity firm Cartesian Capital and Thomvest Seed Capital, a Toronto-based investment vehicle backed by Peter Thomson.

The terms of the deal were not disclosed.

The Canadian government, in a separate statement, said it has approved the transfer of Public's spectrum licenses to Telus, paving the way for the deal to proceed.

The transaction is still subject to approval from Canada's Competition Bureau.