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TMCNet: UPDATE 1-BMV Holdings to get investment from OMERS

[January 08, 2009]

UPDATE 1-BMV Holdings to get investment from OMERS

, Jan 08, 2009 (Reuters via COMTEX) --
Low-cost wireless carrier BMV Holdings said the private
equity arm of Canadian pension fund OMERS signed an agreement to invest up to
C$50 million ($41.56 million) in the company.
The investment makes OMERS one of the largest investors in the company,
BMV Holdings Chief Executive Alek Krstajic said in a statement.
Toronto-based BMV, the latest newcomer to try to take on the three big
established players in Canada's mobile phone market, will launch wireless
services to Canadians in specific markets in Ontario and Quebec during the third
quarter of 2009.
BMV is entering the business after spending C$52 million ($43.23 million)
in the Canadian government's auction of wireless spectrum. That purchase of
airwaves bought it a potential market of about 18 million people.
($1=1.203 Canadian Dollar)
(Reporting by Bijoy Koyitty in Bangalore; Editing by Pratish Narayanan)


Keywords: BMVHOLDINGS/

(bijoy.koyitty@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S.
+91 80 4135 5800; Reuters Messaging: bijoy.koyitty.reuters.com@reuters.net)
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