According to a report from The Globe and Mail, TELUS has hired away a key executive from WIND Mobile, Andrea Wood. The latter was WIND’s former chief legal officer and starts her new position as vice president of legal services at TELUS on Monday.
“Andrea brings more than 25 years of distinguished legal experience to Telus, much of that in the telecommunications and related industries,” Telus said in an e-mailed statement on Tuesday. “We expect great things from Andrea as she joins Telus as a senior member of our legal team.”
The move comes at a time when the future of newer wireless entrants WIND Mobile, Public Mobile and Mobilicity are up for sale, with the latter cited to be engaged in talks with TELUS for an acquisition, in a deal sources mentioned could be valued at $350-400 million. Mobilicity last week gained Ontario court approval to launch its restructuring process, which many believe is a step towards readying itself for sale.
The Globe and Mail reiterates sources say VimpelCom, the parent company of WIND Mobile has started a sale process for the company, with potential bidders being incumbent wireless carriers, Mobilicity and private-quity firm Catalyst Capital Group Inc. Other possibilities include WIND CEO Anthony Lacavera’s holding company AAL Corp. plus investment firm Accelero Capital (owned by Egyptian billionaire Naguib Sawiris) in a possible joint bid.
The Federal government previously announced its plans to expand wireless competition but with newer entrants up for sale, those plans aren’t looking very good right now.