Transaction|November 29, 2013
TELUS and Public Mobile announce client-focused transaction
Torys acted as counsel to Thomvest Seed Capital with a team that included Guy Berman, Michael Akkawi and (Ricco) A.S. Bhasin (merger and acquisition), Omar Wakil (competition) and Andrew Wong (tax).
On October 23, 2013, TELUS Corporation (TELUS) entered into an agreement with Public Mobile Inc. (Public Mobile) to obtain 100 percent ownership of the company. The transaction received approval from the Competition Bureau and Industry Canada, ensuring continuity of service and enhanced functionality for Public Mobile's 280,000 wireless customers.
The specific terms of the transaction have not been disclosed.
Proceeds will be used to satisfy Public Mobile's debt and equity investors.
TELUS is a leading national telecommunications company in Canada, with $11.2 billion of annual revenue and 13.2 million customer connections.
Public Mobile provides unlimited talk, text, Android data services and Siren music to value conscious customers in Ontario and Quebec.
Further information can be found on TELUS' website.
The specific terms of the transaction have not been disclosed.
Proceeds will be used to satisfy Public Mobile's debt and equity investors.
TELUS is a leading national telecommunications company in Canada, with $11.2 billion of annual revenue and 13.2 million customer connections.
Public Mobile provides unlimited talk, text, Android data services and Siren music to value conscious customers in Ontario and Quebec.
Further information can be found on TELUS' website.