(Reuters) – Telus Corp has withdrawn its bid to acquire struggling domestic wireless company Mobilicity, The Globe and Mail reported on Wednesday, citing a source it did not identify.
The Western Canada-focused telecommunications company has made several bids for the much-smaller company, formally known as Data & Audio-Visual Enterprises Wireless Inc, despite federal government opposition.
Telus, Mobilicity and court-appointed supervisors of the corporate restructuring weren’t immediately available for comment.
The Toronto-based Mobilicity has been backed by U.S. private equity firm Quadrangle Capital Partners since 2008.
(Reporting by Alastair Sharp; Editing by Bernadette Baum)
(This story has been edited by Kirk Falconer, Editor, peHUB Canada)
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