Canada’s Globalive offers $2.9 bln to buy Freedom Mobile – The Globe And Mail

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Reuters

Canadian investment firm Globalive Capital Inc has offered to buy Shaw Communications Inc’s wireless telecoms unit Freedom Mobile for C$3.75 billion ($2.94 billion) in cash, The Globe and Mail reported on Tuesday, citing a source.

The report comes as Rogers Communications Inc seeks regulatory approval for its C$20 billion takeover deal with Calgary-based Shaw, which was announced last March.

Earlier this month, Canada’s industry minister, François-Philippe Champagne, said he would not permit the wholesale transfer of Shaw’s wireless licenses to Rogers as part of a buyout bid for Shaw.

The all-cash offer to acquire Freedom Mobile’s wireless licenses, customer accounts, cellphone towers and stores was presented to Rogers last week, the report https://tgam.ca/3i8Xztt said.

Globalive, Freedom Mobile, Shaw and Rogers did not immediately respond to Reuters requests for comment.

The financing for the Freedom Mobile deal would be provided by a group of investors led by Twin Point Capital and Baupost Group, the report said. ($1 = 1.2770 Canadian dollars) (Reporting by Akriti Sharma in Bengaluru; Editing by Subhranshu Sahu)

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