The Toronto Star is reporting Canadian wireless carrier Telus has offered to purchase rival Microcell Telecommunications Inc. (who operates Fido). Fido is Canada’s smallest carrier, the offer was for just $1.1 billion Canadian. Stock in Microcell soared from $10.45 to $31.70 on the Toronto Stock Exchange after the news.

The merger would make Telus the largest carrier in Canada, taking the spot currently occupied by Bell Mobility.