Lack of clarity around Ottawa's telecommunications policy has jeopardized foreign investment in Canada and cast doubt over the future of Wind, the largest new player in the Canadian wireless market, said Egyptian telecom magnate Naguib Sawiris on Wednesday.Sawiris bankrolled the start-up of new telecom player Wind Mobile in 2008, but he lost his ties with the company after his controlling stake in Orascom was sold to European telecoms firm Vimpelcom Ltd in 2011.He retained an interest in investing in the Canadian telecom sector until earlier this month, when the Canadian government blocked his bid to purchase Manitoba Telecom Services Inc's Allstream fiber optic network, citing unspecified national security concerns."Canada is behaving like a third-world country. It is not behaving like a Western developed economy," Sawiris said in an interview with Reuters on Wednesday.
VimpelCom Ltd. (VimpelCom) is a holding company. The Company operates in Mobile Telecommunications Businessand Fixed-Line Telecommunications and Fixed Internet Business. Shares of VIP traded higher by 4.04% or $0.5/share to $12.87. In the past year, the shares have traded as low as $9.56 and as high as $12.82. On average, 1156990 shares of VIP exchange hands on a given day and today's volume is recorded at 2927205.
Source
