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Control of Look in question after Craig files suit against wireless ISP and cable provider

News | 08/26/2003 4:00 am EDT

Craig Wireless International Inc. has taken its fight for control of Look Communications Inc. to the courts, filing a statement of claim last month against the company seeking to undo transactions made in the months leading up to and during Look’s annual general meeting (AGM) on May 14. Craig Wireless, which currently has a 29.9% ownership stake in Look with an option to purchase an additional 2.57%, is battling Unique Broadband Systems Inc. (UBS) and its wholly owned subsidiary UBS Wireless Services Inc., holders of an equal 29.9% stake in Look and with an option to up its stake to 51%.

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