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Canada OKs Wind Mobile Sale

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Mobile operator commits to investing in new spectrum and growing its business across Canada.

The Canadian government has given the go-ahead to the takeover of Wind Mobile by its founder Tony Lacavera, subject to certain commitments from Wind.

“This acquisition will contribute to a more robust and competitive wireless industry in Canada,” industry minister James Moore said in a statement on Tuesday.

Globalive Capital agreed to pay C$135 million to take sole control of Wind Mobile in September.

Formerly known as AAL Holdings, Globalive Capital currently holds 67% of Wind’s voting rights and 34% of its equity, while the sellers – Vimpelcom and its Global telecom Holding subsidiary – have 32% of the firm’s voting rights and 65% of its equity. Globalive Capital is owned by Tony Lacavera, Wind’s founder and CEO. Original post at Total Telecom

Wahengbam Rorrkychand

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Website: http://www.blog.tonsetelecom.com

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