Ottawa to open telecom sector to greater foreign ownership

[bylo]

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...

[Stu]

That could prove interesting.

[bylo]

Then again, with the world economies in recession, where is the money going to come from? Canada not on foreign cellphone firms' radar

While Canada's cellphone industry is opening up to new competition, consumers shouldn't expect foreign players to be setting up shop soon to offer them even more choice.

The big Canadian telecom players said Friday they aren't expecting any quick changes to open up their industry to more foreign competition and analysts agreed.

"None of the American wireless carriers are in financial shape to invest in a foreign wireless carrier," said Sascha Segan, lead analyst for mobile devices for PC Magazine...

"I don't think people should be holding back on their purchases waiting for a Verizon store to open up in their shopping mall soon," said Goldberg of Mark Goldberg and Associates.

[PhotoJim]

It doesn't have to happen instantly to have an impact. This is a long-term decision, not a short one.

[rockjock]

True the whole Orascom owning Wind being run by Globalive is an interesting thing. Now for the life of me I still do not know why Vodafone was locked out of all this.

Now with Char-r on the radar I see Wind in troubled waters again.

[Motel75]

"None of the American wireless carriers are in financial shape to invest in a foreign wireless carrier," said Sascha Segan, lead analyst for mobile devices for PC Magazine...

Well, thank goodness for that, but no American interest does not equal no foreign interest.