Wind Mobile buyout plan receives thumbs-up from Industry Canada

OTTAWA and TORONTO – It’s full speed ahead for Wind Mobile after Industry Canada officially approved a plan allowing Globalive Capital to buy back majority control of the Canadian wireless company from VimpelCom.“Foreign investment transactions are reviewed on their merits and the overall economic benefit for Canada”, said Industry Minister James Moore, in a statement. “In making my determination, I concluded that this acquisition will contribute to a more robust and competitive wireless industry in Canada.”Industry Canada also approved the transfer of the company’s spectrum licences.Wind Mobile chairman Anthony Lacavera announced in September that his investment company, with the help...