The Financial Post reports in its Thursday edition that Ottawa's unrelenting determination to impose a fourth wireless company on Canadian consumers continues to generate much speculation, confusion and empty talk. The Post's Terence Corcoran writes the only concrete result of the strategy so far is billions of dollars in investor losses. The latest bit of debris from the policy was news that VimpelCom had unloaded its shares in the holding company for Wind Mobile, one of the companies Ottawa chose to take on Bell, Rogers Communications and Telus. VimpelCom sold its interest for $135-million, incurring a loss of about $1.5-billion. Another Tory government pick, Mobilicity, is languishing in bankruptcy, its shareholders banned from selling by arbitrary dictate from Industry Canada. The Post pegs the losses at about $500-million. Mobilicity's shareholders have sued Ottawa for breach of promise and $1.2-billion. Mr. Corcoran wonders how much Industry Minister James Moore is willing to rig the rules and the market to favour the creation of a fourth wireless firm in a market the Post says is "already highly competitive." Mr. Corcoran says what a fourth carrier really wants is a free ride from Ottawa.
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