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Mobile & Wireless

Orascom to acquire AAL interest in Wind Mobile Canada

Monday 21 January 2013 | 09:08 CET | News
Orascom Telecom Holding and Wind Mobile's founder, chairman and chief executive officer, Anthony Lacavera, have jointly announced they have entered into an agreement to transfer Lacavera's shares of Wind Mobile Canada to Orascom. Lacavera, who plans to launch a new initiative, Globalive Capital, will remain Wind Mobile's chairman and CEO until closing and will continue in a non-operational capacity as Wind Mobile Canada's honorary chair. Upon closing, Orascom will own an indirect 99.3 percent interest in Globalive Wireless Management. 

Under the agreement, upon obtaining certain necessary regulatory approvals, Orascom will indirectly acquire all of AAL's interest in Globalive Wireless Management, which operates under the Wind Mobile brand in Canada. AAL is a holding company that is majority-owned by Lacavera. As part of the consideration to be paid to AAL, the Globalive group's fixed-line assets, including the Globalive name and trademark, will be transferred to AAL. 

Completion of the transactions is subject to satisfaction of certain conditions, including Canadian regulatory approval of the conversion of Orascom's non-voting shares into voting shares, which would result in Orascom holding an indirect 65.1 percent voting and economic interest in Globalive Wireless Management immediately before completion of the transactions with AAL. 



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Categories: Fixed / Mobile & Wireless
Companies: Globalive / Orascom Telecom / Wind Mobile
Countries: Canada
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