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Verizon Ditches Canada Expansion Post Vodafone Deal

September 04, 2013 - News

**Editor's Note: Please click here for a recap of the biggest communications mergers in Q2 2013.**

Canada's big three telcos are cheering Verizon Communications' decision to buy Vodafone's stake in Verizon Wireless for $130 billion. That's because at the same time the carrier announced the mega deal, it also said it would not pursue the acquisition of a smaller carrier in the Canadian market, something that's been a hot topic all summer.

Bell Canada, Rogers and Telus all saw their stocks jump – the most in years. Yet Verizon says its decision not to go north isn't connected to the Vodafone buyout.

"Verizon is not going to Canada," said Lowell McAdam, chief executive officer of Verizon, according to Bloomberg. "It has nothing to do with the Vodafone deal — it has to do with our view of what kind of value we could get for shareholders. If we thought it had great value creation we would do it."

Many reports had Verizon linked to Wind Mobile as a potential acquisition target. The New York-based operator never mentioned any specific targets, but did acknowledge it was interested in Canada, until this week.

The blockbuster deal between Verizon and Vodafone must still get regulatory approval, but the hurdles are expected to be small since Verizon was already the majority owner of Verizon Wireless and the impact on its 100 million customers will be negligible.

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