Don’t hold your breath for the future of Wind Mobile. Despite posting consistent subscription growth to solidify its hold on the #4 position in Canada’s wireless market, the carrier’s owners have all but given up hope for its future.
VimpelCom Ltd., the Amsterdam-based telecom conglomerate that in January raised eyebrows by its last-minute refusal to fund any Wind Mobile bids in the just-concluded 700 MHz spectrum auction, raised industry antennae yet again last week after writing down its investment in the Canadian carrier by US$768 million. VimpelCom is the primary backer of Globalive Wireless Management Corp., which operates in Canada under the Wind Mobile brand.
VimpelCom’s latest writedown, which it attributes “to the challenges the Company is facing in the country, which resulted in the strategic decision to withdraw from the 700 MHz spectrum auction and the reassessment of the prospects for continuing operations in the country,” is its second in as many years – in 2013 it wroteRead More »from The end draws near for Wind Mobile