Lancaster Posted December 17, 2015 Share Posted December 17, 2015 http://www.torontosun.com/2015/12/16/shaw-communications-buying-wind-mobile-in-deal-valued-at-16-billion Quote Shaw Communications buying Wind Mobile in deal valued at $1.6 billion THE CANADIAN PRESS First posted: Wednesday, December 16, 2015 07:21 PM EST | Updated: Wednesday, December 16, 2015 07:25 PM EST A Shaw Communications sign at the company's headquarters in Calgary, Wednesday, Jan. 14, 2015. Shaw Communications has reached an agreement to buy Wind Mobile in a transaction valued at $1.6 billion. THE CANADIAN PRESS/Jeff McIntosh Change text size for the story Print this story Report an error CALGARY -- Shaw Communications is making its long-anticipated foray into the wireless business by picking up Wind Mobile for $1.6 billion. The Calgary-based telecommunications company says it will acquire the country's fourth-largest mobile operator by subscribers, pending a number of regulatory approvals, including the Competition Bureau and the Ministry of Innovation, Science & Economic Development. Shaw expects the transaction to close in the third quarter of 2016. Wind Mobile was formed exactly six years ago on Wednesday as part of group of new entrants in Canada's wireless industry, a move encouraged by the federal Conservative government to stoke competition. Since then, telecom giant Telus was rebuffed by the government in multiple attempts to buy Wind Mobile. Wind Mobile has run into financial problems and has had difficulty raising money for its capital investments, but a change in its ownership structure late last year cleared the way for it to raise funds. The Toronto-based company has 940,000 subscribers across Ontario, British Columbia and Alberta. Shaw chief operating officer Jay Mehr told The Canadian Press the company needed to enter the wireless market in order to satisfy the demands of its customers. "We've always wanted, for the future of our company, to be able to deliver a complete converged network experience for consumers and businesses alike," he said. As a Wind customer, I don't mind having the company in a more financially stable footing. That being said, I'm not sure how much of a difference this would make in regards to competition. I would be more receptive if instead it was some behemoth US company moved in and really make Robelus tremble. Link to comment Share on other sites More sharing options...
This topic is now archived and is closed to further replies.