Verizon Communications has reportedly offered to buy Canadian telecoms start-up Wind Mobile as it also approaches its local rival Mobilicity.
The US telecoms giant’s offer values Wind at around C$700m, according to reports citing sources.
It has also…
Verizon Communications has reportedly offered to buy Canadian telecoms start-up Wind Mobile as it also approaches its local rival Mobilicity.
The US telecoms giant’s offer values Wind at around C$700m, according to reports citing sources.
It has also held talks with Mobilicity about a deal in recent days, reported local publication The Globe and Mail.
The companies were unable to comment on the deal speculation.
Verizon has made no secret of plans to expand into Canada’s wireless market, with the country recently relaxing foreign ownership rules to attract outside investors.
Last week CFO Fran Shammo said the company was looking at the opportunity.
Rumours that a Canadian deal could be on the cards are fuelled by previous plans by Wind Mobile shareholder VimpelCom to exit the telco, and the financial difficulty of Mobilicity, which recently had its sale to Canada’s Telus blocked by the government.
