VimpelCom will be taking bids for WIND Mobile starting on March 22, according to several news reports.

Toronto-based WIND Mobile is the fourth largest wireless carrier in Canada and the price of ownership will be in the $500 million to $1 billion range.

In a Toronto Star report, Canaccord Genuity Canadian research head Dvai Ghose said: “We estimate that VimpelCom/Orascom has invested approximately $1.7 billion into WIND Mobile Canada to date including $442-million for their AWS spectrum.”

Among those expected to bid are Anthony Lacavera, who founded WIND Mobile in December 2009.

The Toronto Staralso lists Fairfax Financial Holdings Ltd., a financial investor in BlackBerry (formerly RIM), as a potential suitor along with debt holders of wireless carrier, Mobilicity.

VimpelCom has yet to formally make a statement with regards to the sale of WIND.

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