Anthony Lacavera (CEO of Globelive, parent company of Wind Mobile) and Ken Campbell (CEO of Wind Mobile), I’ll admit it, I had my doubts that Industry Minister Tony Clement would over turn the CRTC decision and give Wind Mobile the green light to become the 4th Canadian wireless provider but it is officially true.
“The decision to vary the CRTC Globalive decision, let me emphasize, was based on the legal facts and not on the government’s position that there needs to be more competition in the marketplace,” Mr. Clement said.
At the end of the day Ottawa does want more competition in the Canadian wireless space, let’s be honest they will make more money that way right? Mr. Clement’s decision to over turn the CRTC ruling was based on the fact that 80% of Globalive’s voting shares are Canadian where as the CRTC was looking at the fact that 65% of the ownership of Wind Mobile was with Orascom Telecom Holding SAE, a Cairo-based carrier owned by Egyptian billionaire Naguib Sawiris.
Competition is good, competition is healthy, except today in the case of Bell, Rogers and TELUS who have all seen a decline in their stock price today as a result of the news.
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