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

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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 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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