Canada’s Industry Minister, Tony Clement, confirmed yesterday that the federal government plans to relax rules surrounding foreign investment in the Canadian telecommunications industry.
The government will table a consultation paper on the issue “in the next few days,” followed by a public consultation process, Clement announced at the Canadian Telecom Summit in Toronto.
Foreign ownership of Canadian telecom firms is currently limited to 46.7%, a restriction which has caused headaches for new market entrants such as Wind Mobile. By loosening investment regulations, the government hopes to make the telecom sector more competitive, which should ultimately result in lower prices for consumers.
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