Globalive has offered to buy Freedom Mobile for $3.75 billion.
Anthony Lacavera is the founder and chairman of Globalive, and he also founded Wind in 2008. Lacavera sold Wind to Shaw Communications in 2016 for $1.6 billion. Shaw rebranded the company to Freedom.
According to the Globe and Mail, the all-cash offer includes acquiring the company’s wireless licenses, customer accounts, cell towers, and stores.
The news comes as Rogers tries to gain regulatory approval to merge with Shaw. But to do that, the company may have to sell Freedom to create competition in Canada’s telecom market.
Rogers is currently meeting with prospective buyers, but it isn’t clear if Globalive was ever on that list. The Globe and Mail reports representatives presented Globalive’s offer to Rogers last week.
Lacavera has been vocal about his interest in buying back Freedom. In December, he made his interests clear, stating it would be good for the Canadian market if Freedom became independent.
The Globe and Mail reports Twin Point Capital and Baupost Group, two U.S.-based investment groups, will finance the transaction.
MobileSyrup has reached out to both Lacavera and Globalive for comment and will provide a response once available.
Update 16/03/2022 1:27pm EST: Lacavera told MobileSyrup he doesn’t have any comments pertaining to the details reported by the Globe and Mail, but the company’s interest in Freedom Mobile remains.
“We believe Globalive is well-positioned to be the acquirer given our unique track record of bringing independent competition to the Canadian market. We brought prices down and improved services for consumers before and we will do it again.”
Source: Globe and Mail