Verizon CEO denies Canadian market entry

Looks like Verizon won’t be posing a threat to Canada’s “Big Three” carriers (Bell, Rogers, and TELUS) as Verizon CEO Lowell McAdam dispelled rumors that the New York-based telecoms giant was setting up shop here. 

The statement was made by McAdam during a phone interview with Bloomberg after Verizon bought out Vodafone’s 45 percent share in Verizon Wireless for $130 billion—not only giving them full control of the United States’ most profitable mobile phone operator but making this the biggest acquisition in the US in over a decade.

“Verizon is not going to Canada,” McAdam said. “It has nothing to do with the Vodafone deal, it has to do with our view of what kind of value we could get for shareholders. If we thought it had great value creation we would do it.”