Egyptian tycoon says Wind Mobile in peril due to Ottawa policy - Reuters
Egyptian telecom magnate Naguib Sawiris said on Wednesday the lack of clarity around Ottawa's telecom policy has put Wind Mobile, the largest new entrant in the Canadian wireless market, at risk of going bust. Sawiris bank-rolled the start-up of Wind in 2008, but lost his ties to the firm after his controlling stake in Orascom was sold to European telecoms company Vimpelcom in 2011. Orascom had put up most of the funding for Wind's launch. Sawiris, whose investment firm Accelero Capital Holdings had bid C$520 million ($500 million) for the Allstream business, said he was livid with the Allstream ruling and he vowed not to invest any further funds in Canada.
16 October 2013•4 mins read
