Foreign ownership about more than money, commissioner tells committee
telecom | 03/11/2003 5:00 am EST
Konrad von Finckenstein, the commissioner of competition at the Competition Bureau, spoke to the House of Commons Standing Committee on Industry, Science and Technology on February 24. The text of his remarks, slightly edited, appears below. First, access to capital is essential for a dynamic and efficient industry and squeezing out foreign capital is inconsistent with an effective capital market. A diversity of options and sources of capital, including diverse sources, diverse risk acceptance, and diverse terms and conditions are necessary for a market to function as best it can. For instance, greater access to foreign capital could help long distance telecommunications
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