The Canadian wireless drama continues today as RBC Capital Markets analyst Jonathan Allen states that Gobalive could be saved and might launch before Christmas.
There are a few caveats though. The National Post reports that Allen “told clients that a full $300-million contribution would allow Orascom to convert all its loans to equity and stay under the current 65% equity limit that the CRTC has already endorsed…However, if Globalive can find just another $150-million, this would give Orascom room to convert half the loans to equity. This would leave only $200-million in loans to syndicate third parties. The third party debt holders are not required to be Canadian.”
So, gather your friends, ping them on Twitter and Facebook and come up with the 150 million and bring more competition to Canada!
More here at NP
