Telecom industry needs Canadian capital: Globalive CEO

TORONTO – Not surprisingly, Globalive chair and CEO Anthony Lacavera supports foreign investment in Canada’s telecom industry. But only under certain conditions, and only if “we can’t fund it in our own backyard.”Lacavera, whose wireless company Wind Mobile has major investment from Egyptian-based Orascom Telecom, said Thursday that his company was forced to go abroad to seek capital is because “it was not available on Canadian soil to the extent required”.“The (investment) pool is small and Bay Street is entrenched with the incumbents and their business interests”, Lacavera said during a speech to the Empire Club of Canada in Toronto. ...