Canadian Press NewsAlert: Private equity firms buy Public Mobile

TORONTO – Two private-equity firms, Thomvest Seed Capital Inc. of Toronto and Cartesian Capital of New York, have acquired Public Mobile — one of the small wireless carriers that emerged after the 2008 wireless spectrum auction.

Public Mobile provided few details in its announcement but said Thomvest and Cartesian have committed to put the company into a “cash flow positive” position. Cartesian partner Paul Pizzani also said Public Mobile is positioned to grow in a consolidating industry and by participating in the next spectrum auction.

More coming

News from © The Canadian Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.

Join the Conversation!

Want to share your thoughts, add context, or connect with others in your community?

Create a free account

The Canadian Press

The Canadian Press is Canada's trusted news source and leader in providing real-time, bilingual multimedia stories across print, broadcast and digital platforms.

Related Articles