Acquisition target: Look Communications

According to separate reports in The Globe and Mail and Canada's National Post, Rogers Telecom and Telus are each eyeing Look Communications as a potential acquisition target. Look owns spectrum to provide wireless Internet and mobile TV service to 100,000 customers in Ontario and Quebec. The company also holds some broadcasting licenses. Despite the attractive assets, Look is unprofitable. It posted $6.63 million of red ink for the year ended Aug. 31st compared with a loss of $8.31 million a year earlier. The company has a $30-million market capitalization and is 51 percent owned by Unique Broadband Systems.

For more on Look:
- take a look at this article over at The Globe and Mail

Also: Read this for more on wireless in Canada.