Saturday, January 19, 2013

Wind Mobile to lose CEO, come under Egyptian telco's wing

We're only a few days into 2013, but that's not stopping Canada's Wind Mobile -- the Great White North's fourth largest carrier -- from announcing big changes for the year ahead. The firm just struck a deal with Egypt's Orascom that'll see the foreign telco gain control of the company through a stock deal and have Wind's founder and CEO, Anthony Lacavera, step down from his post. Barring hiccups in regulatory smell tests, the pact is expected to be rubber-stamped by the end of the year. As for Lacavera, he'll stay onboard as honorary chair and will spearhead a new effort dubbed Globalive Capital to invest in budding technology, telecom and media companies.

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