Oh, Canada: Verizon Wireless Eyes Possible Northward Expansion
Verizon Wireless may be looking to expand beyond U.S. borders.
During Thursday’s earnings conference call, Verizon Communications CFO Fran Shammo indicated that the carrier is conducting an “exploratory exercise” to see if an expansion into Canada makes sense.
“If you look at the population of Canada, about 70 percent of that population is between Toronto and Quebec. That’s adjacent to the Verizon Wireless properties,” Shammo said. “Again, if you look at the spectrum auction, it mirrors up exactly with what we launched here in the United States on the 700MHz [frequency].”
Shammo did note that regulatory and other issues could pose challenges to such a move.
“So again, cautiously looking at it, not ready to make any announcements today and we continue to explore and have discussions, but at this point it’s just really just an exploratory exercise,” he said, according to a transcript of the call.
A Verizon Wireless representative declined to comment beyond Shammo’s remarks.
Verizon is not the only U.S. carrier considering moves beyond national borders. AT&T has also been said to be pondering moves, particularly in the wake of its failed bid for T-Mobile US.