The opinions expressed in this editorial are those of the author and do not necessarily reflect those of Decima Reports.  Canada may well remove foreign ownership restrictions on telcos, but it’s too little, too late: the country should have done this much sooner. There may be those that disagree with this assessment, but one only needs to look at the telecom landscape littered with failed ventures. Defunct companies such as Cannect and C1 should serve as evidence to recognize that foreign ownership restrictions should have been eliminated a long time ago.  Some people blame the telecom bubble bursting after 2000 and the associated over-investment in network builds for the demise of service providers. But those supposed over-investments – meant to provide facilities-based competition to the incumbent telephone companies – could have easily been put to good use had foreign ownership restrictions not been in place. Additional financing from foreign sources would have allowed them to weather the telecom storm. While company after company filed for bankruptcy protection, ending either in liquidation or amalgamation, incumbent carriers arguably strengthened their position in the market without having to do virtually anything. They waited patiently until only a few competitors remained.  There was some hope that competition would materialize in the last few years from companies such as 360networks, Call-Net Enterprises, Allstream, and potentially even Microcell. But those companies no longer exist as their former selves: they have merged with other firms. There is no question that opening up the Canadian telecom market to greater foreign investment will bring the country in line with its major trading partners, but it will do nothing to create more competition for telecom services.  Removing foreign ownership restrictions at this juncture will only serve to open the country’s major telecom providers to foreign takeover. But one even has to question the logic of that ever happening.  Rural and remote Canada remains the only untapped market in Canada with very little available market in the urban areas. Eliminating foreign investment restrictions for telecom at this point will open the doors to foreign entities wanting to capture an ever-shrinking lucrative urban market.