Today, Industry Minister James Moore made the following statement on AAL Acquisitions Corporation's application under the Investment Canada Act to acquire majority control of WIND Mobile, a wireless telecommunications company based in Ontario:
"AAL Acquisitions Corporation's application to acquire control of WIND Mobile has been approved.
Protecting consumers and increasing competition in the wireless market are priorities for our Government. Since 2008, our Government has made clear decisions to ensure Canada's telecommunications market is competitive so that Canadians benefit from more choice, lower prices and better service.
Foreign investment transactions are reviewed on their merits and the overall economic benefit for Canada. In making my determination, I concluded that this acquisition will contribute to a more robust and competitive wireless industry in Canada.
As a result of this review, AAL Acquisitions Corporation has agreed to the following commitments:
- to maintain WIND Mobile's head office in Canada;
- to ensure that a majority of WIND Mobile's head office employees are Canadian;
- to remain incorporated under Canadian federal or provincial laws;
- to provide Canadian-based suppliers with a fair and equitable opportunity to compete for WIND Mobile's business;
- and, to significantly invest capital with the aim of purchasing spectrum and growing WIND Mobile's business across Canada.
Industry Canada has also approved the spectrum licence transfer to AAL Acquisitions Corporation. This now concludes all Government of Canada regulatory approvals for this acquisition."
src:news.gc.ca