Wind Mobile rethinks Canada

Naguib Sawiris, who backs Wind Mobile, says he regrets his decision to invest in Canada and is telling others not to do the same, the Globe and Mail reported. The Egyptian billionaire said the Canadian government misled him. He is now threatening to pull out of an upcoming government auction of wireless licences.

Published: Wednesday, 11/23/2011 12:00 am EST

Naguib Sawiris, who backs Wind Mobile, says he regrets his decision to invest in Canada and is telling others not to do the same, the Globe and Mail reported. The Egyptian billionaire said the Canadian government misled him. He is now threatening to pull out of an upcoming government auction of wireless licences. He would like the government to put aside some licences for new competitors and clear up its foreign ownership rules.

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