Catalyst Prepared to Back Mobilicity Spectrum Bid
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Newton Glassman’s Catalyst Capital Group Inc. is willing to finance Mobilicity’s bid for additional wireless airwaves, along with other willing creditors, in an effort to spur further consolidation among smaller Canadian carriers.
Participating in the federal government’s auction of wireless airwaves next year is the only way to salvage value in Mobilicity, which is currently under creditor protection, Glassman said. Catalyst, Canada’s second-largest private-equity firm, is one of Mobilicity’s largest creditors.