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Sawiris says he’s exiting Canadian market for good

telecom | 10/16/2013 8:03 pm EDT

Egyptian billionaire and former Wind Mobile financier Naguib Sawiris said he is “finished with Canada” following the federal government's decision to reject his firm's bid to acquire Allstream Inc., Egyptian newspaper Al-Ahram said. “I am finished with Canada, I tell you,” Sawiris told Al-Ahram in a story published this weekend. “The world is big and my money can go anywhere ... I regret that we wanted to invest in Canada,” he said. Industry Canada said last week that it denied Accelero Capital Holdings' $520-million deal to acquire Allstream from Manitoba Telecom Services Inc. following the federal department's review of the deal under the Investment Canada Act. The decision marked the first time the government cited national security...

Allstream no longer for sale as Accelero deal the first blocked for national security

telecom | 10/09/2013 8:51 pm EDT

Manitoba Telecom Services Inc. is removing the “for sale” sign from its Allstream division following the Conservative government's decision to block its sale to Accelero Capital Holdings, said Chris Peirce, the company’s chief corporate officer. “We think Allstream is in the right place in terms of our market niche,” Peirce said in a telephone interview Wednesday. “We’re going to focus on building the Allstream business.” Industry Canada said...

Paradis delays auction, says no set aside spectrum transfers to incumbents

telecom | 06/04/2013 1:29 pm EDT

OTTAWA, TORONTO—Industry Canada will block Telus Corp.'s proposed deal for Dave Wireless Inc.’s mobile spectrum, as well as any other proposal from an incumbent to acquire wireless...

Uncertainty of telecom file delaying Wind Mobile’s ownership change

telecom | 05/31/2013 6:56 pm EDT

Seven months after VimpelCom Ltd. filed an application to change control of Wind Mobile, Industry Canada still hasn't released a decision. VimpelCom, an international mobile operator based in Amsterdam, filed application last October with an expectation that the agreement would be approved within 45 days, and before an...

Allstream’s fibre network supports Accelero’s plans for Wind: analysts

telecom | 05/27/2013 8:15 pm EDT

Accelero Capital Holding's deal to purchase Allstream from Manitoba Telecom Services Inc. will give the company a cross-country fibre network that would provide backhaul support for mobile wireless services and bundled Internet, voice and mobile wireless contracts in the business market. That is, of course, if...

Sawiris re-enters Canadian market with deal for Allstream

telecom | 05/24/2013 6:40 pm EDT

Former Wind Mobile backer Naguib Sawiris said he is re-entering the Canadian telecom market with a “long-term commitment” and the purchase of Allstream from Manitoba Telecom Services Inc....