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Canadian Press NewsAlert: Wind Mobile backer withdraws application to get control

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The corporate logo of Wind Mobile is shown. Orascom Telecom Holding says it\'s withdrawing an application to acquire control of Wind Mobile Canada. The Egyptian company says it has made the decision following a review process and discussions with Canada\'s federal government. THE CANADIAN PRESS/HO

MONTREAL – Orascom Telecom Holding says it’s withdrawing an application to acquire control of Wind Mobile Canada but says it’s interested in working with the Canadian government on another approach. Orascom is an Egyptian company that provided much of the financial backing for Wind Mobile, one of several new wireless networks that entered the Canadian market several years ago. Current federal rules limit foreign control of Canadian telecom companies.

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The Canadian Press

The Canadian Press is Canada's trusted news source and leader in providing real-time, bilingual multimedia stories across print, broadcast and digital platforms.

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