CAIRO AND TORONTO, Jan. 18, 2013 /CNW/ - On the heels of a strong growth
year, Orascom Telecom Holding S.A.E. ("Orascom") and WIND Mobile's
founder, Chairman and Chief Executive Officer Anthony Lacavera, jointly
announce that they have entered into an agreement to transfer Mr.
Lacavera's shares of WIND Mobile Canada to Orascom.
Mr. Lacavera, who plans to launch a new initiative, Globalive Capital in
2013, 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%
interest in Globalive Wireless Management Corp.
"As an entrepreneur, my vision was to ignite change across the wireless
landscape in Canada, bringing more competition, better prices and
superior service to Canadians," said Mr. Lacavera. "And that is exactly
what we did. Now that I am confident WIND Mobile Canada is on a course
for long-term success, I can focus on launching Globalive Capital to
make targeted investments in companies that share my entrepreneurial
vision and continue to support innovation through new and emerging
Mr. Lacavera founded WIND Mobile in Canada in 2008. Partnering with
Orascom (now majority owned by VimpelCom Ltd.), WIND Mobile acquired
spectrum in the 2008 wireless auction and launched what is now Canada's
fourth largest wireless carrier. Since that time, WIND Mobile has
launched in Southern Ontario (including Toronto), Ottawa, Vancouver,
Calgary and Edmonton and now serves 600,000 subscribers.
Under the terms of the signed agreement, upon obtaining certain
necessary regulatory approvals, Orascom will indirectly acquire all of
AAL Corp.'s interest in Globalive Wireless Management Corp., which
operates under the WIND Mobile brand in Canada. AAL Corp. is a holding
company that is majority-owned by Anthony Lacavera. As part of the
consideration to be paid to AAL Corp. (which includes cash
consideration and a continuing economic participation in WIND Mobile
for AAL Corp.), the Globalive group's fixed-line assets (including the
Globalive name and trademark) will be transferred to AAL Corp.
"Anthony Lacavera has been the face and the voice of WIND Mobile
Canada," said Ahmed Abou Doma, Chief Executive Officer of Orascom. "I
wish to pay tribute to his leadership in making WIND Mobile the
official alternative to the 'Big Three' incumbents in Canada."
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% voting and economic interest in
Globalive Wireless Management Corp. immediately before completion of
the transactions with AAL Corp. Orascom currently holds an indirect
32% voting interest and 65.1% economic interest in WIND Mobile Canada.
AAL Corp. currently holds an indirect 66.7% voting interest and 34.3%
About Orascom Telecom:
Orascom Telecom is a leading international telecommunications company
operating GSM networks in high growth markets in the Middle East,
Africa and Asia, having a total population under license of
approximately 449 million with an average mobile telephony penetration
of approximately 56% as of September 30th, 2012. Orascom Telecom
operates GSM networks in Algeria ("OTA"), Pakistan ("Mobilink") and
Bangladesh ("banglalink") and has an indirect equity shareholding in
Globalive Wireless Canada ("Wind Mobile"). In addition it has an
indirect equity ownership in Telecel Zimbabwe (Zimbabwe) and through
its subsidiary Telecel Globe, OTH also operates in Burundi and the
Central African Republic. Orascom Telecom reached over 85 million
subscribers as of September 30th, 2012.
Orascom Telecom is traded on the Egyptian Exchange under the symbol
(ORTE.CA, ORAT EY), and on the London Stock Exchange its GDSs are
traded under the symbol (ORTEq.L, OTLD LI). For more information visit www.orascomtelecom.com.
About Globalive Holdings: Globalive Holdings is a leading provider of telecommunications solutions
in Canada and internationally to the consumer, business and hospitality
markets. The Globalive companies include: WIND Mobile, Yak
Communications, One Connect, Canopco and Globalive Carrier Services.
For more information, visit www.globalive.com.
SOURCE: WIND Mobile
For further information:
Media contact: Shelley Thomas, Narrative PR, 416-357-7829, email@example.com
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