Tuesday, 14 August 2012

CRTC Gives Telus a Deadline to Prove Its Ownership Structure is Legal

CRTC Gives Telus a Deadline to Prove Its Ownership Structure is Legal

The Canadian Radio-television and Telecommunications Commission has given a deadline to Telus, requesting that the telecommunications company proves to the national regulator that its foreign ownership falls within legally permissible levels.
Following a public outcry from Globalive Wirless and Wind Mobile in June, the CRTC now wants Telus to "explain in detail" the ownership breakdown of its stock. Under Canadian law, a telco with more than 10% of the country's marketshare - which Telus easily meets - cannot be more than one-third owned by foreigners.
In July, Telus argued that 32.6% of its voting shares are held by foreigners, just within the legal threshold. But Wind Mobile argues this number could be as high as 48%.
Should Telus fail to satisfy the commission’s inquiry, a full-blown public review may follow

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