UPDATE 2-Bid deadline for Canada's Mobilicity delayed by a week
By Alastair Sharp
TORONTO Dec 9 (Reuters) - The court-appointed monitor for struggling Canadian wireless startup Mobilicity has extended the deadline for suitors to bid for the company by a week to Dec. 16, a regulatory filing shows.
Bidders for the Toronto-based startup, which filed for court protection from its creditors earlier this year, now have until noon next Monday to submit their offers in the court-supervised auction, according to a document posted on the website of monitor Ernst & Young Inc.
Ernst & Young said it extended the deadline following requests from several bidders.
Mobilicity, formally known as Data & Audio Visual Enterprises, offers lower-cost unlimited talk and text plans to fewer than 200,000 customers, mainly in several of Canada's biggest cities. It previously agreed to sell itself to Telus Corp, one of Canada's dominant wireless providers.
But the federal government twice blocked the sale of Mobilicity to Telus on the grounds it would create an undue concentration of wireless spectrum ownership.
The largest of Mobilicity's creditors, private equity firm Catalyst Capital Group Inc, wants the startup to merge with Wind Mobile, the biggest of the new players in the Canadian mobile market, and would consider putting resources behind such a move, a Catalyst spokesman said on Monday.
Catalyst said it is not interesting in owning Mobilicity per se. Continued...