(Reuters) - Verizon Communications Inc
The U.S. telecommunications firm is instead focusing on whether to take part in a key Canadian spectrum auction, which has a September 17 deadline for applications, the Globe and Mail said. Potential bidders in the auction are barred from negotiating any deals with other bidders until next year.
The newspaper said it was not clear what prompted the change in strategy and whether this signaled Verizon was less enamored about entering the Canadian market or whether it wanted to drive down the prices for the firms Wind Mobile and Mobilicty.
Verizon had tabled a $700 million preliminary offer for Wind Mobile and signed a non-disclosure agreement with Mobilicty in recent months, it said.
This month Rogers Communications Inc
In July, Reuters reported that Mobilicity, legally known as Data & Audio-Visual Enterprises Holdings Inc, was in talks with Verizon, among others, in connection with a potential acquisition.
Representatives for Verizon, Wind Mobile and Mobilicity could not be reached for comment outside normal business hours.
(Reporting by Lehar Maan and Aman Shah in Bangalore; Editing by Edwina Gibbs)