Craig Wireless sells licences to Inukshuk for USD78m

Canadian WiMAX operator Craig Wireless has agreed to sell its entire Canadian frequency assets to Inukshuk Wireless, the nationwide wireless broadband venture of Bell Canada and Rogers Communications, for CAD80 million (USD78 million). Craig Wireless announced the sale of its licences in British Columbia and Manitoba provinces to Inukshuk on Friday 26 March 2010, subject to regulatory approval. Drew Craig, co-CEO of Craig Wireless, said that the sale was ‘supportive of the company’s strategy to create value for shareholders through a portfolio of spectrum investments.’ The company retains spectrum assets and operations in the US, Greece, Norway and New Zealand.