Craig McCaw’s Canadian Broadband Wireless dream

2 thoughts on “Craig McCaw’s Canadian Broadband Wireless dream”

  1. Well, McCaw has deep pockets aynway. Allstream came out of bankruptcy in 2003 and has been bought up by MTS, who seem more interested in focusing Allstream’s efforts on traditional revenue streams. Microcell (also the company behind Fido cellular) has been on death watch for a couple years now.

  2. McCaw has agreed to fully backstop a C$100M rights issue for Microcell. In the event the rights issue is fully subscribed by existing shareholders (likely given the stock price is $3 above the strike) he will invest an incremental C$50M. This will be the minimum he invests. So he’s putting in somewhere between C$50 and C$100 of his own cash depending on the uptake from current shareholders.

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