CRTC Not To Review Telus Foreign Ownership
News: Canadian telecoms regulator, the Canadian Radio-television and Telecommunications Commission (CRTC), has decided not to review the foreign-ownership structure of local telecoms provider Telus. The regulator thinks that there is insufficient evidence of non-compliance with the foreign ownership rules. Globalive (Wind) had filed a request with the regulator to review Telus' ownership structure, claiming that it is in breach of legal limits. Foreign ownership is not allowed to exceed 33.3% of a telecoms operator's shares under the law.
BMI View: Canada's Globalive (Wind) had submitted a filing to the CRTC, the country's telecoms regulator, claiming that Telus violated foreign ownership rules for telecommunications companies operating in the country. Wind has accused Telus of having around 48% foreign ownership. Although Telus contests this, BMI believes the move may help encourage greater transparency in shareholder structure, which would benefit the market.