WINNIPEG – Craig Wireless has completed the $80 million sale of its Canadian spectrum to Inukshuk Wireless Partnership, a partnership of affiliates of Rogers Communications and Bell Canada.
The sale’s final condition was met late last week when the company received a Tier 3 broadband radio service (BRS) license covering Eastern Manitoba, including the Winnipeg region, from Industry Canada. After filing an application to transfer the license to Inukshuk, Craig said that it received the final $16.8 million of the aggregate sale proceeds.
"We are extremely pleased to announce that the final phase of the Canadian spectrum asset sale has been completed" said co-CEO T. Boyd Craig, in a statement. "With the completion of this transaction, the company’s financial situation has never been stronger, and we as an organization are excited to focus on our remaining markets and exploring other opportunities that align with our vision and experience."
Following regulatory approval of the sale, Craig will continue to operate spectrum in the U.S., Greece, Norway, and New Zealand.
