BMV gets $50 million injection from OMERS

BMV spent $52.3-million to win the “G-block” spectrum licence last summer (total reach is 19 million people in the Ontario and Quebec market) has received an initial investment of $50 million from OMERS (Ontario Municipal Employees Retirement System).

BMV plans to launch Q3 2009 and similar to Globalive they have a goal of bringing on a 2 million customers within a couple years. In addition, BMV will offer unlimited voice and texting, simple billing and no contracts for $40 a month. OMERS Private Equity president and chief executive Paul Renaud said “It’s hard to say you’re going to be the lowest-cost provider when you paid the most for spectrum,”