The future of Canadian upstart Wind Mobile got a boost today with the announcement that Globailve has completed a deal to buy the stake that VimpelCom was looking to dump giving Globalive 100% control:
This announcement is a positive development for WIND Mobile and Canadian consumers, including WIND Mobile’s 750,000 happy customers. “With stable, long-term ownership and secure financing, WIND Mobile is moving into an exciting new phase,” said Mr. Lacavera. “WIND Mobile is now poised to continue to bring True Mobile Freedom to Canadians for many years to come.”
“The federal government’s delivery on its promise to create the conditions for viable long-term wireless competition has not gone unnoticed by the investment community,” said Greg Boland, President and Chief Executive Officer of West Face Capital. “We and our partners are pleased to invest in this transaction and we are excited by the future of WIND Mobile.”
The deal is subject to approval by the feds, but I don’t see that as an issue as they want competition in the marketplace. We’ll see what Wind does next. My guess is to go big into the spectrum auction that is due to be held in 2015. They really need that spectrum to build out their network. This deal will help them on that front I suspect.
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Globalive Now Owns 100% Of Wind Mobile
The future of Canadian upstart Wind Mobile got a boost today with the announcement that Globailve has completed a deal to buy the stake that VimpelCom was looking to dump giving Globalive 100% control:
This announcement is a positive development for WIND Mobile and Canadian consumers, including WIND Mobile’s 750,000 happy customers. “With stable, long-term ownership and secure financing, WIND Mobile is moving into an exciting new phase,” said Mr. Lacavera. “WIND Mobile is now poised to continue to bring True Mobile Freedom to Canadians for many years to come.”
“The federal government’s delivery on its promise to create the conditions for viable long-term wireless competition has not gone unnoticed by the investment community,” said Greg Boland, President and Chief Executive Officer of West Face Capital. “We and our partners are pleased to invest in this transaction and we are excited by the future of WIND Mobile.”
The deal is subject to approval by the feds, but I don’t see that as an issue as they want competition in the marketplace. We’ll see what Wind does next. My guess is to go big into the spectrum auction that is due to be held in 2015. They really need that spectrum to build out their network. This deal will help them on that front I suspect.
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This entry was posted on September 16, 2014 at 10:47 am and is filed under Commentary with tags Wind Mobile. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.