Globalive's Wind mobile withdraws from Canada wireless auction

Mon Jan 13, 2014 5:30pm EST
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

TORONTO (Reuters) - Globalive's Wind Mobile said it has withdrawn from Canada's 700 megahertz wireless spectrum auction, due to start on Tuesday, after its main backer, Vimpelcom Ltd, VIP.O decided not to fund Wind's participation.

The move all but assures that the country's biggest telecommunications providers, BCE Inc's (BCE.TO: Quote) Bell, Rogers Communications Inc (RCIb.TO: Quote) and Telus Corp (T.TO: Quote) - will take the lion's share of the limited resource.

(Reporting by Alastair Sharp)

WIND Mobile cell phones are displayed at a retail store before the official launch of WIND Mobile, a new cellular service for the Canadian market, in Toronto, December 16, 2009. REUTERS/Mark Blinch