Verizon ices Canadian expansion after acquiring Vodafone stake

After flying into Canada and making noise about acquiring spectrum or buying operators Wind Mobile and Mobilicity, Verizon is taking its ball and going home. You might expect that's because it just dropped $130 billion buying Vodafone's 45 percent stake in Verizon Wireless -- the largest US corporate acquisition in over a decade. But Verizon said it had more to do with "what kind of value we could get for shareholders," and that "if we thought it had great value creation we would do it." That might be a boost to Rogers, Telus and BCE in Canada, but Verizon's withdrawal doesn't change one fact: all three are still bidding for a single block of 700MHz spectrum in next year's wireless auction.

Filed under: Wireless, Verizon

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Source: Bloomberg