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Verizon Wireless eyes entry into Canada

2013-06-17 09:57 by
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Verizon Communications Inc. reportedly intends to move into Canada's cellular telephone business, potentially fulfilling the government's hopes of having a fourth major wireless company.

The U.S.-based carrier is currently considering a plan to acquire a smaller carrier in Canada and then compete to buy wireless spectrum Canada is auctioning off this year to strengthen its position in the marketplace. The most attractive target is Wind, the larger and healthier of the two small operators, but Mobilicity is also an option, according to people familiar with the matter.

Verizon is already familiar with the Canadian market due to its previous investment in Telus Corp. Until 2004, Verizon was a major shareholder in the Canadian company. According to current federal rules, foreigners can own a Canadian wireless carrier, but only if it has 10 per cent or less of the market.

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