In a move shocking to many Canadians, Canada's telecom regulator yesterday declared that Globalive, a company hoping to enter Canada's wireless industry as new cellphone startup Wind Mobile, does not meet Canadian ownership rules.
Globalive, which is mostly funded by Egyptian telecom company Orascom, attempted in recent weeks to change the structure of its operations to meet ownership standards in Canada.
However, the Canadian Radio-television and Telecommunications Commission determined the changes weren't enough.
Globalive is determined to get past this road block. From their website, “We are not deterred. We are exploring different paths. And with your support and voice, we will find a way.”
To read the Reuters Press Release, please click here
To visit the Wind Mobile Newsroom, please click here