WIND Mobile, who’s currently up for sale, has a new offer on the table. Last week rumours surfaced that New York-based Verizon Wireless was possibly interested in scooping up WIND. Analysts pounced on the idea, noting a deal is “highly unlikely” and that it’s “noise… like many other headlines over the past few weeks.” Fran Shammo, Verizon CFO, came forward and stated “we’re looking at the opportunity. This is just us dipping our toe in the water.”
According “to two people familiar with the situation” the Globe and Mail is reporting that Verizon has indeed stepped up with an initial offer to purchase WIND Mobile for about $700 million. WIND Mobile currently has over 600,000 subscribers and operates in Toronto, Calgary, Ottawa, Edmonton and Vancouver. The Globe notes that “it’s unclear if a deal will be concluded” and that Verizon might face the usual regulatory issues that have hampered Canadian wireless deals in the past.
In addition, Verizon is considering participating in the upcoming spectrum auction and has also started to take interest in struggling carrier Mobilicity, who’s also for sale and has 250,000 subscribers. The 700Mhz spectrum auction is scheduled to start January 14th, 2014.
Source: Globe
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