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No review of Telus’ foreign ownership, CRTC says

telecom | 12/05/2012 9:45 pm EST

The CRTC rejected a Globalive Wireless Management Corp. request for a review of Telus Corp.’s foreign ownership holdings. In June, Globalive asked the CRTC to review whether Telus was in compliance with federal laws that limit foreign ownership of large Canadian telecommunications companies. Under the Telecommunications Act, foreign capital in a Canadian telco with more than 10 per cent of the national market share is limited to 20 per cent of the voting shares in the carrier and 33.3 per cent of the voting shares in the holding company. The Globalive request followed a Telus dispute with U.S. hedge fund Mason Capital Management LLC, which Telus said had purchased a 18.7 per cent of its voting shares in effort to profit off the company’s plan to convert its non-voting shares...