Yes. Globalive/Yak is a relatively small company. They can't finance this sort of expansion on their own. However Canada has foreign ownership restrictions on critical industries like telecommunications so Globalive will have to remain in apparent control even though they won't be able to put up most of the money.

See e.g. http://www.financialpost.com/story.html?id=625552 (but there are many more in the Canadian media.)