Verizon no longer looking at Canada: CEO
TORONTO - The head of Verizon Communications Inc. says the company is no longer interested in entering the Canadian market.
Spokesman Bob Varettoni says Verizon CEO Lowell McAdam made the announcement Monday after Verizon agreed to pay US$130 billion for the 45 per cent stake in Verizon Wireless owned by British cellphone carrier Vodafone.
Varettoni says McAdam said Verizon doesn't have an interest in going to Canada, adding "at this point in time we're not interested in entering the Canadian wireless market."
The prospect of Verizon entering the Canadian market had caused a stir among Canadian wireless carriers.
The big wireless providers argued that big foreign players like Verizon would be given an unfair advantage under the current wireless rules.
They also launched a media campaign to warn that they would be at a disadvantage if Verizon were allowed into the market under the current set of rules.