The transfer of the license for Mobilicity's wireless spectrum to Telus was declined.  It is a deliberate move from the Canadian government to stop bigger companies from acquiring smaller businesses. It is the government's aim to encourage competition in the industry. Therefore Telus' move to swallow Mobilicity was halted. The offer reached $380 million, though the government initially allowed an exception for the deal, Industry Minister Christian Paradis was quick to quash the idea and emphasized current rules should stand.

Mobilicity bought airwaves back in 2008 but struggled to turn a profit. The company though deep-in-debt is mostly coveted for its spectrum assets and its customers is estimated to reach around 250,000.

Other interested buyers include Wind Mobile and Public Mobile, both of which are also struggling. The former has openly expressed and lobbied for consolidation among startups, as disclosed by its founder Anthony Lacavera.

Last Monday, Mobilicity stated to pursue plans of recapitalization as earlier announced. A final decision will be voted upon by debtholders by June 25, 2013.