August 02, 2013 - 7:00 AM
TORONTO - A report says that Toronto-based private capital company Birch Hill Partners is working on a plan to buy a controlling stake Wind Mobile, one of Canada's financially struggling wireless carriers.
The Globe and Mail newspaper is reporting that Birch Hill is working with Rogers Communications Inc. (TSX:RCI.B), which would provide some funding but not get an equity stake in Wind.
Birch Hill has not responded to media requests for comment on the story and Rogers declined to comment.
The Financial Post is reporting that the board of directors of Wind’s majority owner, VimpelCom Ltd., is also set to meet next week and said to be considering offers to buy the Canadian company.
The Post also said U.S. telecommunications giant Verizon Communications (NYSE:VZ) would discuss Wind at a meeting of its directors next week.
Canada's three biggest wireless carriers, Rogers, Bell and Telus, have complained that they should not be denied equal treatment with Verizon or other foreign companies that bid for Wind or other small wireless networks.
News from © The Canadian Press, 2013