Six months ago Tony Lacavera, WIND Mobile’s Chairman and CEO, declared that he would step down and “enter into an agreement to transfer” his share of the business to Orascom Telecom, which is owned by Netherland-based VimpelComm. This procedure was still pending all the necessary approvals, but today puts a completely new spin on its future.
In a tiny press release Orascom stated that they’ve “decided to withdraw its application for Investment Canada Act approval of its acquisition of control of WIND Mobile Canada. Orascom Telecom says this decision follows a review process and discussions with the government of Canada. Orascom Telecom says it continues to be interested in consolidating its interest in WIND Mobile Canada and in working with the government of Canada to achieve this goal.”
There’s no more specific details of what will happen, but WIND Mobile sent us this statement from Tony Lacavera: “As the founder and CEO of WIND Mobile, I have always been committed to creating a true independent wireless choice for Canadians. Despite today’s announcement, I will continue working with VimpelCom toward achieving our mutual objectives. WIND Mobile now has over 600,000 active and loyal customers, and is the clear 4th carrier in Ontario, British Columbia and Alberta. It is an exciting time in Canada’s evolving wireless landscape!”
Developing…
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