Verizon Wireless eyes entry into Canada -- report

The company could be making its entrance into Canada by way of a buyout of a small carrier in the country.

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Verizon Wireless store
This Verizon Wireless store is a long way from Canada -- it's in South Arlington, Texas. Verizon Wireless

Verizon Wireless could be making its way to Canada, a new report claims.

The U.S.-based carrier is considering a plan that would see it acquire a smaller carrier in Canada and then compete to buy wireless spectrum that Canada is auctioning off this year, The Globe and Mail is reporting on Monday, citing people who claim to have knowledge of its plans. If Verizon's plan works out, the company would establish itself among the top four carriers in the country.

Canada's wireless regulation has been notoriously tight, limiting foreign company involvement. However, the country last year decided that it would ease restrictions after smaller carriers continued to have trouble competing with larger competitors.

According to The Globe and Mail, Verizon has been in talks with small carrier Wind Mobile to possibly buy it out. AT&T is also considering an investment in Canada, The Globe and Mail claims. For now, though, Verizon seems most likely to make a move into Canada.

Verizon has competed in the Canadian market before: until 2004, it was a major shareholder in carrier Telus Corp.