McAdam: Expanding to Canada not in Verizon's plans

09/4/2013 | Bloomberg Businessweek · Reuters

Shareholders of Canada's three major telecoms breathed a sign of relief after Verizon Communications CEO Lowell McAdam said Tuesday the U.S. carrier will not look to expand to the north. "It has nothing to do with the Vodafone deal -- it has to do with our view of what kind of value we could get for shareholders," McAdam said. The Canadian government said Verizon's decision will make no difference in its plans to hold a January 2014 wireless spectrum auction in hopes of attracting a strong fourth player in the market.

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Bloomberg Businessweek · Reuters

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