Shaw Communications to acquire Wind Mobile
Shaw Communications Inc. is finally poised to enter the wireless business
Shaw will acquire 100% of the shares of WIND‟s parent company, Mid-Bowline Group Corp., by plan of arrangement, for an enterprise value of approximately $1.6 billion based on quarterly financial statements as of September 30, 2015.
The deal still requires approval from the federal government and the competition Bureau, expecting to close during the third quarter of the fiscal 2016, Also adding that the company will now be able to match it's main rival Telus Corp. Mr shaw Also mentions improvements to coverage and upgrades to LTE as well as...
- Enhances Shaw’s product offering by expanding mobile service capabilities and enabling development of a best-in-class converged wireline and wireless network
- Unique opportunity to acquire rapidly growing wireless business together with 50 MHz of spectrum in Ontario, Alberta and British Columbia
- Acquisition of WIND represents the most efficient operating and financial entry point into the Canadian wireless landscape
- Time to market and integration will be greatly enhanced via an established operating business and experienced management team
Opinion: I think this is great news considering Shaw is a huge Telecommunications giant and can offer extra funding for spectrum bidding, I am a customer with both so I hope Wind service will improve over the next few years after the sale
Sources:
https://newsroom.shaw.ca/corporate/newsroom/news/2015-12-16-Shaw-Communications-Inc-to-Acquire-WIND-Mobile-Corp/
http://www.theglobeandmail.com/report-on-business/shaw-buying-wind-mobile-for-16-billion/article27791628/
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