Verizon is not going to Canada!

Verizon is not going to Canada

In a recent phone interview with Bloomberg, Verizon’s CEO Lowell McAdam said that his company is “not going to Canada,” dismissing speculation about Verizon’s potential incursion into the country as “way overblown.” Or it could be that pouring out $130 billion for Vodafone’s stake in Verizon Wireless left the parent company (Verizon Communications) without much cash to put into its potential Canadian venture.

In any case, even the rumors about Verizon’s potential invasion of Canadian soil scared the country’s Big 3 carriers who have since organized the “Fair for Canada” initiative to stop government from allowing a foreign company an easy entry to the local market. The conservative government on its end reacted with “More Choices” campaign and at one point we though Verizon’s entry to Canada was imminent. Alas that ain’t gonna happen… Guess the legal loophole Canada’s carriers are frequently mentioning will “have to” be used by some other player. Perhaps AT&T? Who knows…

[Via: TheVerge, Bloomberg]

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