"You're going to compete against Starbucks for Wi-Fi?" asked Toronto-based telecom financial analyst Dvai Ghose of Canaccord Genuity. "It puts them in a very weak position strategically, in my view ... because they have no access to wireless data growth. Where is wireless data growth [at cellular carriers] coming from? iPad, iPhones, BlackBerrys, Android."

On the other hand, Iain Grant, managing director of the SeaBoard Group, a Montreal-based telecommunications consultancy, said Shaw's decision is logical, given the increasing prices cellular carriers are charging for data. That has meant many wireless users look for Wi-Fi hotspots to save money.

Shaw's decision could also be a huge opportunity for wireless startups Wind Mobile and Mobilicity to partner with the cable operator, Grant added. Both have cellular operations in Shaw's biggest markets in Vancouver, Calgary and Edmonton.