Verizon reportedly offering $700 for Wind Mobile

TORONTO – New York-based Verizon Communications is setting its sights on entering the Canadian market by reportedly offering to acquire Wind Mobile for $700 million. Citing “two people familiar with the situation,” the Globe and Mail today reported that the U.S. carrier has also held recent talks with Mobilicity’s stakeholders to discuss a potential acquisition. With a market cap of US$135 billion and an estimated US$10.8 billion in free cash flow, the odds of successfully entering the Canadian market would be in Verizon’s favour, according to analyst Dvai Ghose of Canaccord Genuity. By purchasing Wind Mobile and potentially Mobilicity as...