Sources Say Verizon Might Delay its Entry in Canada

This article was last updated on April 16, 2022

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Even after numerous indications signaling that the Canadian government will be welcoming any acquisitions by Verizon Communications Inc., it might be postponing its plans to acquire one or more startup carriers and instead chose to focus its attention on participating in an upcoming auction for wireless spectrum.

Three sources have revealed that The New York-based carrier has delayed its board meeting scheduled on the week of Aug. 5 that was aimed deciding to acquire startup companies. Industry Minister, James Moore, and Prime Minister, Stephen Harper, have made several public comments signaling that the government has no plans of changing its policy regarding the auction. The current policy allows new entrants to the Canadian market to bid on up to two out of four blocks of prime radio waves, while limiting the incumbents to just one. Hence, experts have speculated that Verizon might have changed its mind and decided to exclusively enter the market through auction and buy out two blocks of spectrum in the 700-megahertz frequency band, i.e. the same spectrum it owns in the United States.

A report published by the Globe and Mail on Wednesday evening asserted that Verizon has decided to delay acquisitions of Wind Mobile or Mobilicity until after the spectrum auction in January. Whereas, sources also informed the Financial Post that Verizon could be holding off on a final decision on Wind until right before the deadline to submit initial bids for the auction, which is Sept. 17.