Canada's Wind Mobile is close to breaking even on a cash-flow basis and expects to turn a profit by 2015, its CEO said on Tuesday, improving its chances of raising much-needed capital as it strives to become the country's fourth national wireless carrier. Anthony Lacavera, chief executive of Globalive, which controls Wind Canada with the backing of Russian-led Vimpelcom Ltd, said the company has been signing up record numbers of new customers and only the cost of doing so at a discount is standing in the way of profitability."Wind is on a solid operational footing," he said in remarks prepared for delivery to the Canadian Telecom Summit in Toronto. "I am confident our operating results and the positive momentum of the business will enable us to access the capital markets."Wind needs a fresh infusion of capital as Vimpelcom, discouraged by Canadian law that until recently barred foreign companies from controlling any domestic telecoms, has written off its investment in the company. Vimpelcom also refused to fund a Wind bid for 700 MHz wireless spectrum auctioned by the government earlier this year.Wind will need financing for years to come as it pushes to compete on a national basis with the three large companies - BCE Inc, Telus Corp and Rogers Communications - that dominate the Canadian industry.
BCE Inc. is a communications company, providing residential, business and wholesale customers with a range of solutions to all their communications needs. Shares of BCE fell by 0.24% or $-0.11/share to $45.63. In the past year, the shares have traded as low as $38.72 and as high as $46.70. On average, 610791 shares of BCE exchange hands on a given day and today's volume is recorded at 427533.
BCE Inc. is a communications company, providing residential, business and wholesale customers with a range of solutions to all their communications needs. Shares of BCE fell by 0.04% or $-0.02/share to $49.56. In the past year, the shares have traded as low as $40.58 and as high as $51.09. On average, 939777 shares of BCE.TO exchange hands on a given day and today's volume is recorded at 2102133.
Rogers Communications Inc. (RCI) is a diversified public communications and media company. Shares of RCI fell by 0.12% or $-0.05/share to $40.22. In the past year, the shares have traded as low as $37.00 and as high as $46.10. On average, 346800 shares of RCI exchange hands on a given day and today's volume is recorded at 226650.
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 0.48% or $0.04/share to $8.37. In the past year, the shares have traded as low as $7.53 and as high as $14.74. On average, 2984100 shares of VIP exchange hands on a given day and today's volume is recorded at 1864953.
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