Telus drops its attempt to acquire Mobilicity Mobile

Telus' bid to acquire Mobilicity was primarily a play for more spectrum, and the Canadian government's obligation to block the related frequency deal largely killed the merger's reason for being. However, the carrier isn't fighting that fatal setback to the bitter end, AT&T-style -- instead, it's backing out entirely. That's undoubtedly a relief for Canucks wanting a competitive cellular marketplace, although we wouldn't cheer too loudly. Mobilicity was partly hoping the deal would eliminate its financial woes, and it now has to fend for itself once again. There's also no guarantee that we'll avoid an eventual repeat: it could be open season on Mobilicity when there's no longer a moratorium on spectrum transfers.