Verizon No Longer Seeking to Enter Canadian Wireless Market

Verizon No Longer Seeking to Enter Canadian Wireless Market

Verizon has been making headlines recently. The company just bought back the 45% stake from Vodafone for a reported $130 Billion. The end of the two carriers marriage will allow Verizon more control over markets it plans to invest.

However, one of those markets will not be in Canada. “At this point in time we’re not interested in entering the Canadian wireless market,” McAdam said, according to Verizon spokesman Bob Varettoni.

The rumors of Verizon entering the Canadian market sparked fervor and political debates on the matter. But McAdams suggested the rumors it planned to compete against the top three Canadian wireless carriers were “way overblown”, in an interview with Bloomberg.

The debates the news has sparked is in relation to the spectrum auction process allegedly set up to favour foreign competitors and disadvantage Canadian incumbents.

“Canadians have said they want competition, but only if it’s fair competition,” said Bell Canada spokesman Mark Langton. “The regulatory loopholes that give advantages to big foreign carriers remain and should be closed,” Langton said.

Would you have liked to see Verizon Wireless move into Canada? Sound off in the comments.

via CTV

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