WATERLOO, Ont. -- Mobile telecom company Fongo Inc. says it's making a bid to buy Wind Mobile's Canadian operations.

The Waterloo, Ont., company didn't say how much it will offer for Toronto-based Wind, which launched in 2009.

Fongo says it plans to retain the majority of Wind Mobile's employees but will rethink many aspects of the business.

The company also says that since February 2012 more than 250,000 Canadians have signed up for Fongo's free mobile phone service through a mobile app.

Wind Mobile, part of a wave of new wireless companies offering more cellphone competition in Canada, was launched by founder Tony Lacavera with financial backing from Egyptian telecom player Naguib Sawiris.

They are expected to make a bid to buy back the company from its current Dutch owner, VimpelCom, which has put Wind Mobile up for sale.