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WIND Mobile – We Are Still Committed To Canada, We Are Here To Say

With the news over the weekend that Orascom Telecommunications was looking to make a play to take over WIND Mobile, a lot of speculation surfaced as to what would become of the new Canadian wireless company. Here at the office we had wondering what would become of WIND Mobile’s founder, Tony Lacavera, he is the man with the vision, plan and “kahoonas” to take on just about every level of Canadian government to make his dream a reality. WIND issued the follow press release to try and help tame some of that speculation:

Today WIND Mobile announced that its shareholder Orascom Telecommunications, controlled by Amsterdam-based VimpelCom Group, plans to convert its non-voting shares to voting shares pursuant to provisions in agreements that have governed the company since inception. This right of conversion became effective upon key changes to Canada’s foreign investment rules.
This is purely an internal restructuring effected to simplify WIND Mobile’s capital structure. In the absence of voting share restrictions formerly applicable to WIND Mobile, the non-voting shares were no longer necessary. This helps position the company as it continues to build Canada’s fourth-largest carrier and offer consumers more choice and better value in the wireless marketplace. The decision has no impact on how WIND Mobile operates in Canada – the shareholders’ agreement remains in place and unchanged.
“VimpelCom Group and WIND Mobile remain committed to the Canadian marketplace and becoming Canada’s fourth-largest carrier,” said Tony Lacavera, Chairman and CEO of WIND Mobile. “Contrary to certain preliminary stories in the media this morning, while we’re always considering our strategic options, the company is not currently engaged in any active merger discussion. One thing remains unchanged – our commitment to offering Canadians simple, fair and easy-to understand wireless plans at an affordable rate.”

As much as a few foreign dollars would be good for WIND Mobile, it is also good to see the original focus of being a Canadian wireless.

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