Verizon broke its silence Tuesday concerning rumors swirling around the telecommunications giant’s potential entry into the Canadian market.
CFO Fran Shammo told the Wall Street Journal that Big Red is "gauging the possibility" but insists it’s only in the idea stage. And he’s unsure if regulatory issues might get in the way. Canada’s government is trying to increase wireless competition, the Journal said.
Shammo’s comments come one day after The Globe and Mail reported that Verizon was in preliminary talks with wireless carrier Wind Mobile, the Toronto-based operator that ended 2012 with approximately 600,000 subscribers.
This certainly won’t be the last you’ll hear of the major U.S. telcos making strides to acquire foreign companies. A shadow was cast on the future of major domestic mergers when it became apparent regulators weren’t going to approve AT&T’s bid to buy T-Mobile USA in early 2012.
Just last week, it was reported that Spain’s government blocked AT&T’s attempt to buy Telefónica. Telefónica said there was never a deal.
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