The Canadian government has approved the sale of Wind Mobile. VimpelCom agreed in September to sell its stake in Wind's holding company Globalive to the company's management and a number of investment funds for CAD 135 million. Canadian industry minister James Moore said that the acquisition would contribute to "a more robust and competitive wireless industry in Canada".
The new owners agreed to maintain Wind's head office in Canada, ensure that a majority of Wind's head office employees are Canadian, remain incorporated under Canadian federal or provincial laws, provide Canadian-based suppliers with a fair and equitable opportunity to compete for Wind business significantly invest capital with the aim of purchasing spectrum and growing Wind Mobile's business across Canada. Industry Canada also approved the spectrum licence transfer. Wind welcomed the approval and said it will continue its network and distribution roll-out.
