Catalyst Welcomes Fed Support of Wireless Competition

Canadian private equity firm Catalyst Capital Group welcomed recent federal government decisions impacting Toronto’s Mobilicity, a.k.a. Data & Audio-Visual Enterprises Wireless Inc., that “enforce” 2008 policy “providing restrictions on ASW spectrum transfers prior to April 2014”, and encourage “competition and consumer choice” in Canada’s wireless sector. Catalyst, which is Mobilicity’s largest debt holder, said it is “very supportive” of policy and actions that promote “at least four wireless providers in every region of the country.”

PRESS RELEASE:

Catalyst Capital Group supports the decisions announced today by Industry Minister Christian Paradis that enforce the government’s 2008 policy providing restrictions on ASW spectrum transfers prior to April 2014 and otherwise encouraging competition and consumer choice in the Canadian wireless telecommunications market. Furthermore, Catalyst is very supportive of the government’s policy and actions in promoting at least four wireless providers in every region of the country, and remains willing to act in support of those policies and the right transaction under the right conditions. The government’s actions today and the CRTC’s actions yesterday regarding the code of conduct for the industry go an extremely long way in creating those conditions.

Catalyst agrees that the Canadian wireless market can support an independent, strong, national fourth carrier that will offer consumers real choice, while meeting the government’s priority to provide greater wireless coverage at better rates for consumers.

Catalyst is the largest debtholder of Mobilicity and continues to explore options to participate in the restructuring of the Canadian wireless sector–and looks forward to pursuing both consumers’ and government’s objectives of developing a true alternative to the incumbent wireless providers.

Argyle Communications

Marc Budgell; 416.968.7311 x239

Argyle Communications

Scott Steele; 416.968.7311 x235

Photo courtesy of Shutterstock.