Canadian Industry Minister Christian Paradis urged foreign capitalists to invest in the country's wireless industry. The funds infusion would support emerging challengers to the established wire carriers operating in the country.
Paradis said, "What we want is to have more competition. We need foreign capital as capitalization is a life and death matter."
This was his response when questioned if he would support a foreign backed company or a domestic firm to purchase Wind Mobile. Wind Mobile is the latest entry into the Canadian market and its owner VimpelCom Ltd is soliciting bids for the purchase of the firm.
The government is instituting programs to provide assistance and support to the newest players in the market such as Videotron Ltd, Public Mobile Inc and MobileCity. These new market players are challenging Rogers Communications Inc., BCE Inc., and Telus Corp who together control 90% of the market of Canadian subscribers currently connected.
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