Globalive hopes Canadian banks will fund network expansion

OTTAWA – New wireless entrant Globalive is seeking bank financing to fund an expansion of its network, according to a report from Reuters.The story says that Globalive hopes to raise “several hundred million dollars” and would consider an initial public offering in the future in order to accelerate its network and distribution build.Globalive, which launched its service in Toronto and Calgary last month under the Wind Mobile brand name, is not seeking cash to change its business plan or respond to a change in market conditions, chairman Anthony Lacavera said in the story.Click here to read the full report.