Wirelessnorth.ca

March 31st, 2008Niagara Networks is Gone

800 Million to zero in two weeks. Niagara Networks is gone from the Canadian AWS spectrum auction. This is great news for the other bidders, but is it good new for Canadians? Also is missing is T-Mobile, Sprint, ATT&T, Vodafone and any other foreign bidder. Perhaps undone by by a combination of a bad US financial market and/or CRTC rules that would have forced them to take a minority stake. Either way it looks like made-in-canada spectrum owners are coming for better or worse without the scale and experience adavantage of foreign partners. The drama isn’t over yet. Expect more dropouts and consolidation in the list as June approaches. More to come… stay tuned to wirelessnorth.ca

http://startupnorth.ca Jevon MacDonald

Was it just a probe? I am guessing they never had the 800+million then?
http://connectmobile.wordpress.com/ Tom

I had a bad feeling about this company when they stayed quiet as the numbers were first released.

Going public after the bidders list was announced would have been the prime opportunity to start building a brand if they really had the cash to back it up. They could have hit the ground running after the auction.

Too bad. Its a loss for Canadians.
Aaron

What a disappointment.

Does anyone know what “Niagara Networks” had to pay to get on the list initially? Because it occurs to me that it might be an incredibly economical dump-and-pump stock manipulation. Sell Rogers short, advertise some mega-competitor, buy when the shareholders get jittery, then sell when the mega-competitor evaporates. Brilliant! If the cost to make an initial application was a few sheets of paper and postage, that’s a pretty good deal!
Zed

Is this an April Fool Stunt? This just does not make sense
Guy Doune

A bad news for the canadian market…even with the new provider to come, price will be still to high due to a lack of good & honnest players.
http://dan.matan.ca Dan

Aaron,

Either that, or they were just hoping that some foreign latecomer would want to work with them.

Here’s a linky to the stock chart for Rogers: http://tinyurl.com/2rfmzb
http://www.goingcellular.com/consumer-issues/the-great-canadian-ripoff-44565/ Going Cellular » The Great Canadian Ripoff

[...] in Canadian businesses. Just as quickly as the company appeared on the scene, it disappeared, withdrawing its application to participate in the spectrum auction a mere two weeks after submitting it. [...]
http://montrealtechwatch.com/2008/05/25/there-is-something-rotten-in-the-canadian-telecom-world/ There is something rotten in the Canadian telecom world | Montreal Tech Watch

[...] I have no comments about all this backstage action; but I hate to see the direction where the auctions are going. The only serious companies left are Shaw Communication, Québecor, and Globalive Wireless. [see initial list] [...]

March 31st, 2008Niagara Networks is Gone

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