Verizon CEO Says Carrier Not Going To Canada

It was first rumored back in June that the largest U.S. carrier, Verizon Wireless, was interested into making an entry in Canada. It was said that the carrier was looking to purchase a small Canadian carrier before bidding for wireless spectrum that the country auctions off next year. Last month it was said that Verizon had decided against purchasing a small local carrier because it first wanted to see how it did in the auction. The carrier didn’t reveal its official position during the rumor cycle, but it is now said that it has no plans of going to Canada. In a phone interview, Verizon CEO Lowell McAdam said that the decision has to do with their view of the kind of value they can offer their shareholders. “If we thought it had a great value creation we would do it,” he said.

McAdam also said that speculation about Verizon entering to Canada was “way overblown.” Fran Shammo, Verizon’s CFO, said back in June that they were looking into this opportunity, that Verizon was just dipping its toe in the water. McAdam said that the press made more of the carrier’s interest in Canada than there was inside the company itself.

Adnan Farooqui
Categories: General
Tags: canada, verizon wireless