AWS wireless new entrant BMV Holdings received a major boost with the announcement this morning that the Ontario municipal pension fund, OMERS, has agreed to invest up to $50M in the venture.
Paul Renaud, President and CEO of OMERS Private Equity is quoted saying:
BMV and its investors made an astute purchase in Industry Canada’s wireless spectrum auction last summer and we believe the company has great potential in the Canadian wireless market. In addition, we are impressed by the leadership and experience of their management team and investment partners.
BMV says that it plans to launch “value-priced” services in select markets in Ontario and Quebec during 3Q 2009.
Alek Krstajic, BMV’s Chief Executive Officer, will be a speaker on our special AWS New Entrant panel at The 2009 Canadian Telecom Summit, taking place in June in Toronto.