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Verizon Communications (NYSE:VZ) is considering jumping into the Canadian wireless market by taking over one of the smaller players struggling against Canada's mobile incumbents, according to a report in the Globe and Mail newspaper.
The report, citing unnamed sources, said that the Canadian government wants to have at least four major wireless carriers in all of Canada's regional markets to bolster competition, and it views foreign investment in one of the struggling smaller players as a way to ensure that. Verizon has held exploratory talks with Wind Mobile investors, according to the report, which also named AT&T (NYSE:T), Vodafone and Telenor as potential investors.
Wind and Mobilicity are failing to turn a profit despite working to lower market prices. The carriers are competing against larger incumbents Telus, BCE's...