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Just before recessing for the summer, Parliament passed
amendments to the Telecommunications Act that removed
foreign ownership requirements for all but the largest Canadian
telecommunications carriers.
As
we noted previously, the amendments in question provide that
Canadian ownership rules will no longer apply to a
telecommunications common carrier if the carrier and all its
affiliates have total annual telecommunications revenues that
represent less than 10% of total Canadian telecommunications
revenues, as determined by the CRTC.
Based on total reported revenues for 2010, the threshold
below which Canadian ownership rules no longer apply is
approximately $4.2 billion, and likely growing. All but the
largest wireline and wireless carriers will fall below this
threshold, including new wireless entrants, non-dominant carriers,
and even several incumbent carriers.
Current rules limit foreign ownership in telecommunications
carriers to an effective maximum of 46.7%, reflecting combined
maximum allowable interests at the operating and holding company
levels. These rules remain in place for larger
carriers. Similar rules also continue to apply to
broadcasting undertakings licensed under the Broadcasting Act.
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