Ottawa to open telecom sector to greater foreign ownership

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Ottawa to open telecom sector to greater foreign ownership - The Globe and Mail

“Our government will open Canada's doors further to venture capital and to foreign investment in key sectors, including the satellite and telecommunications industries, giving Canadian firms access to the funds and expertise they need,” says a transcript of the speech, which was being read in the Senate by Governor General Michaëlle Jean...

The policy statement shows that cabinet's decision last year to overrule an October decision of the Canadian Radio-television and Telecommunications Commission was not simply a one-off by the Harper government. The CRTC had ruled that Globalive Wireless Management Corp. did not meet the requirements to enter the Canadian market because it was controlled by a transnational Egyptian firm.

That decision was overruled in December by Industry Minister Tony Clement, which allowed Globalive to launch “Wind Mobile,” a cellphone service that is now competing against Telus, Bell and Rogers in limited markets...