Boston, MA 27/06/2013 (wallstreetpr) – Verizon Communications Inc. (NYSE:VZ), is a communication service provider company. The company renders its services across the globe. The company leads in the global market to deliver broadband and other wireless and wireline communication services. Verizon is considered to be the most reliable wireless network in America rendering its service to almost 99 million retail customers.
Verizon has shown its interest in acquiring Canadian peer Wind Mobile. Wind Mobile has recently entered into the Canadian market and is struggling for its survival. WIND is an established and growing brand of Wind Telecomunicazione, having a successful history in Italy and Greece. WIND offers data and voice services under the two brand names namely “WIND” and “INFOSTRADA”. Wind focuses on simplicity, clarity and transparency values for which their services and customer relationships are highly inspired.
VimpleCom (VIP) is the largest owner of Wind, which owns roughly 65% of Wind’s stock. VimpleCom along with WIND holds other 9 brands. The Company operates in Mobile and Fixed Line Telecommunications Business and Fixed Internet Business.
VimpelCom (VIP is expecting around $500 million in exchange of the Wind’s stock held by it. Verizon has made an initial offer of $700 million for the acquisition of Wind’s stake. Verizon is also planning to acquire Moblicity, another Canadian carrier and also made plans to participate in the upcoming spectrum auctions. The decision of Verizon to enter the Canadian market would cost them a total of $1 billion to $2 billion. Francis J. Shammo, the CFO of Verizon recently admitted that entering into Canadian market may add up to regulatory issues.
Verizon has recently brought a change in its executive’s team by appointing Leecia Eve, as the Vice President of Govt. affairs for Verizon’s tri-state region. She will be joining Verizon from July 15 succeeding Jim Gerace, who has now been appointed as Verizon’s Chief Communications Officer.
