Verizon in Talks to Buy Into Canadian Telecoms

Verizon Communications is in talks to acquire one, and maybe two, struggling Canadian mobile-phone carriers, as it mulls a push north of the border.

Verizon has signed a nondisclosure agreement with Mobilicity, a small upstart wireless carrier in Canada, in preparation for talks over a possible deal, according to a person familiar with the matter. This person said Verizon executives have told Mobilicity that any talks with the company would be contingent on separate discussions now under way about a possible acquisition by Verizon of Wind Mobile, another small carrier in Canada. It is unclear how Verizon would structure any deal with either company, or what valuation it is putting on either or both privately held companies. A previous expression of interest for Wind, reported earlier this year by The Wall Street Journal, valued the company at about 500 million Canadian dollars ($476 million.)