TORONTO, Oct. 22, 2012 /CNW/ - Today WIND Mobile announced that its
shareholder Orascom Telecommunications, controlled by Amsterdam-based
VimpelCom Group, plans to convert its non-voting shares to voting
shares pursuant to provisions in agreements that have governed the
company since inception. This right of conversion became effective upon
key changes to Canada's foreign investment rules.
This is purely an internal restructuring effected to simplify WIND
Mobile's capital structure. In the absence of voting share restrictions
formerly applicable to WIND Mobile, the non-voting shares were no
longer necessary. This helps position the company as it continues to
build Canada's fourth-largest carrier and offer consumers more choice
and better value in the wireless marketplace. The decision has no
impact on how WIND Mobile operates in Canada - the shareholders'
agreement remains in place and unchanged.
"VimpelCom Group and WIND Mobile remain committed to the Canadian
marketplace and becoming Canada's fourth-largest carrier," said Tony
Lacavera, Chairman and CEO of WIND Mobile. "Contrary to certain preliminary
stories in the media this morning, while we're always considering our
strategic options, the company is not currently engaged in any active
merger discussion. One thing remains unchanged - our commitment to
offering Canadians simple, fair and easy-to understand wireless plans
at an affordable rate."
About WIND Mobile
WIND Mobile is dedicated to improving the Canadian wireless experience
by offering customers simple and transparent plans, including real
unlimited voice/data/text with no term contracts and no hidden fees. Committed to becoming the country's fourth national carrier, WIND has more than 500,000 happy customers in Canada and is a part of
Amsterdam-based VIMPELCOM Ltd., a global company with over 200 million
customers. Learn more about WIND Mobile at www.windmobile.ca.
SOURCE: WIND Mobile
For further information:
Public Relations and Social Media Specialist, WIND Mobile