Freedom Mobile founder wants to buy the company back
TORONTO – Xplornet Communications Inc. is in talks with Rogers Communications Inc. about purchasing Shaw Communication Inc.’s Freedom Mobile, according to the Globe and Mail, which cites “three sources familiar with the talks.”
It was reported last week Rogers is in talks with potential buyers for Freedom. This news followed a statement from François-Philippe Champagne, the minister of Innovation, Science and Industry, which indicated he would not allow Rogers to acquire all of Shaw’s wireless assets.
Rogers needs approvals from the CRTC, Competition Bureau and ISED before it can purchase Shaw. After the minister’s statement was released, Rogers president and CEO Tony Staffieri told Scotiabank analyst Jeff Fan at a conference held by the bank that Rogers is “working with all three regulatory bodies as you would expect… and we’ve had very healthy dialogue with each of those in terms of the things they’d like to see.”
There is at least one party other than Xplornet who wants to purchase Freedom Mobile at this point.
Freedom Mobile founder Anthony Lacavera has expressed interest in the company, which was previously named Wind Mobile. Last Friday he posted on Twitter, saying he intends to buy back the company. “This is a company and an industry that I am incredibly passionate about, particularly due to the impact it has on Canadians,” Lacavera’s tweet reads.
Prior to the tweet the Globe reported Globalive, a global investment firm that Lacavera founded and is currently the chair of, made a bid to buy Freedom for $3.75 billion.
“Whether I’m the successful buyer of @FreedomMobile or not, I am appreciative of your support, and am optimistic about the benefits that a pure-play #wireless company can bring to Canadians in the future,” another tweet from Lacavera says.
