Canadian telecom company TELUS Corp. (T.TO, TU), Thursday said it agreed to acquire Mobilicity, a provider of wireless telecommunication services, for $380 million. The entire purchase price will be used for Mobilicity's secured and unsecured debt.
TELUS and Mobilicity have informed the government and regulators and both companies are fully committed to working cooperatively to secure timely approvals for the transaction, as said in the statement by TELUS.
Upon completion, TELUS will retain all 150 Mobilicity employees as it integrates the Mobilicity operation into TELUS over the coming months. The employees would have the opportunity to review and secure permanent, long term roles with TELUS.
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