Toronto-based private capital company Birch Hill Partners is working on a plan to buy a controlling stake of Wind Mobile, one of Canada's financially struggling wireless carriers, according to a report
The Globe and Mail reports that Birch Hill is working with Rogers Communications Inc., which would provide some funding but not get an equity stake in Wind.
Birch Hill has not responded to media requests for comment on the story and Rogers declined to comment.
'The government is bending over backwards to entice Verizon to Canada.'—Telecom analysts Dvai Ghose and Sanford Lee
Canaccord analysts Dvai Ghose and Sanford Lee, who cover the telecom sector in Canada, said in a note to clients Friday that the government is unlikely to OK any transaction that would see an incumbent gain any sort of control over one of Canada's smaller players, "especially if it is obvious that such transactions are merely designed to keep WIND and Mobilicity from Verizon ownership."
Indeed, the federal government stepped in earlier this year when Telus attempted to take over Mobilicity in a $300-million deal.
"Given the current regulatory environment, we find the story interesting, but question whether regulators would approve such transactions," Ghose and Lee said.
"The government is bending over backwards to entice Verizon to Canada, regardless of the potential impact on Canadian wireless incumbents and new entrants
Wind fielding offers
The Financial Post reports that the board of directors of Wind's majority owner, VimpelCom Ltd., is also set to meet next week and said to be considering offers to buy the Canadian company.
The Post also said U.S. telecommunications giant Verizon Communications would discuss Wind at a meeting of its directors next week.
Rogers, Bell and Telus have complained that they should not be denied equal treatment with Verizon or other foreign companies that bid for Wind or other small wireless networks.
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