Verizon Eyes Canadian Market with $700M Bid for WIND Mobile
Verizon Communications is prepared to pay $700 million for WIND Mobile, and is also considering an acquisition of wireless startup, Mobilicity.
The Globe and Mail reports on June 26th that two sources have confirmed that the US wireless giant has an “inital offer on the table.”
Since WIND Mobile has a market share well under 10 percent, foreign ownership is not an issue, but some observers see the Verizon takeover as a long shot in light of previous decisions made by the CRTC.
While Bell, Rogers and Telus control a dominant 90 percent of the 25 million wireless subscribers in Canada, Verizon would gain WIND’s 601,719 customers, which incidentally is considerably less than the 100 million customers it provides services for in the US. Verizon reports that it connects around 1 billion residential and business calls per day.
The Globe also reports that Verizon is evaluating whether to participate in the federal’s government’s wireless spectrum auction in January 2014.
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