A few weeks ago we had asked who would buy Public Mobile, the struggling wireless provider, that launch in March 2010 has found a buyer. Public announced this week this week that Toronto-based investment vehicle of Peter J. Thomson, and Cartesian Capital, a New York-based private equity firm have come to the table. With the acquisition, Thomvest and Cartesian invested the first tranche of a commitment to fully fund Public Mobile to a cash flow positive position, and Thomvest became the company’s controlling shareholder.
Earlier this week Industry Minister Christian Paradis rejected a proposed bid by TELUS to buy Mobilicity. Apparently Canadian government has some concern and fear that such a merger would open the flood gates for smaller carriers to be swallowed by Bell, Rogers and TELUS who in in total control more than 90% of the Canadian wireless market.
[adrotate banner=”6″]
