News Summary

The Canadian government has been ordered to repay the investors of Mobilicity, a Canadian telecom company, following a decade-long court battle. The case, resolved by an Ontario judge, began when the government set aside a wireless spectrum for smaller players like Mobilicity in 2008, preventing major companies from monopolizing it. Mobilicity started operations but struggled financially, and by 2013, government changes to spectrum resale rules devalued their assets. While Telus offered to buy Mobilicity, new rules prevented the sale until an exemption allowed Rogers to acquire it in 2015. The court’s decision now mandates the government to repay the initial investments to Mobilicity’s shareholders, estimated to be around $500 million, including prejudgment interest.