RSL puts Canadian subsidiary on auction block; focus shifts to Europe, U.S. markets
News | 07/31/2000 4:00 am EDT
Canada’s foreign ownership limits may be partly to blame for RSL Communications Ltd’s decision to put its Canadian subsidiary on the selling block. The New York-based parent announced July 17 that it would be pulling its operations out of Canada, Japan and Hong Kong in favour of more lucrative markets. It has hired the investment firm BMO Nesbitt Burns to help sell the Canadian division.