Dec 05, 2012
By Michael Kramer
The CRTC says it won’t be reviewing the level of foreign ownership in Telus Corporation.
The broadcast regulator has denied a request by new wireless competitor Wind Mobile to review Telus’s foreign ownership and says it’s satisfied the company’s non-Canadian ownership doesn’t exceed 33.3 per cent.
When Globalive made the complaint last summer, Telus had reported that its foreign ownership was 32.6 per cent.
More recently, Telus said its foreign ownership had dropped to about 15 per cent, largely due to a U.S.-based hedge fund selling a chunk of its stake in the company.