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Government to open doors to wireless foreign investment

By on March 3, 2010 at 3:56pm in Asides, Mobile News, Various News

The government started a new session today and in the Speach of the Throne, Governor General Michaëlle Jean outlined top priorities and stated “Our government will open Canada’s doors further to venture capital and to foreign investment in key sectors, including the satellite and telecommunications industries, giving Canadian firms access to the funds and expertise they need.”

More details will be announced tomorrow, but this will make new entrants extremely happy as they have been asking the government for this request. Most notably was CEO of Public Mobile, Alek Krstajic, he said after Globalive was given the green light that they should be given the same rules.

Krstajic stated “All I’m saying is that if you’re going to have one set of rules for him, have them for us as well. Let me get foreign capital right now. I have American partners right now who would love to invest more money and they can’t because we have complied with the rules as we were told they existed and we can’t have any more foreign capital. What we want to do is force the government to say we made new rules in what we did, and we made them for Tony and the guys at Globalive, now let’s treat all, forget the new entrants, let’s open up these markets for the incumbents as well… we should have fair rules across the board.”

Guessing he got his wish and we’ll see more investment opportunities coming into Canada. Another organization that will be thrilled to hear the news is also new entrant Mobilicity. Both new entrants will be launching their new wireless service shortly and with extra funding could rapidly expand their business. In addition, perhaps now Verizon or T-Mobile might step into Canadian territory.

More here at the Globe
(Thanks Nadim!)

Related posts:

  1. TELUS asks CRTC to look into Globalive’s foreign investment
  2. Letter from Public Mobile to the Industry Minister regarding Globalive: “Two Wrongs Don’t Make a Right!”
  3. TELUS: “We don’t think the CRTC had any choice”
  4. Public Mobile can’t be happy with this: Gov’t says Globalive documents are confidential and “cannot be disclosed”

Discussion

11 comments for “Government to open doors to wireless foreign investment”

  1. It’s about time!

    I just wonder how difficult it will be to actually pass the legislation though? You know some politicians, on both sides of the House, will wrap themselves in the flag and decry us selling out our national identity.

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    Posted by Randy | March 3, 2010, 4:12 pm
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  2. Let’s hope they tie in rules that prevent off-shoring jobs like the current monopolies do.

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    Posted by Hub | March 3, 2010, 4:17 pm
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  3. I agree with Randy. If they are able to change the rules I think Verizion/AT&T/T Mobile would probly teamup with existing cariers simmiler to Rogers AT&T years ago.Cariers in the USA have there own problems,Check HSPA coverage mostly in the citys.AT&T is having majour problems with basic service.Spending billions to try and fix the problems.Outher cariers are have isuies as well.

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    Posted by Larry | March 3, 2010, 4:28 pm
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  4. Dave / T-Mobile almost imminent now I’d suspect

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    Posted by Nadim J | March 3, 2010, 4:42 pm
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  5. hopefully this means we’ll get bbc or bbc america because bbc canada is just horrible in comparison.

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    Posted by Mark | March 3, 2010, 4:58 pm
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  6. On the other hand, bringing in competition, even under new rules and restrictions, should help solve the monopoly problems that we’re having with Rogers/Bell/Telus and their rates. We need more competitors like Wind (who I’m more than likely going to wind up with)

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    Posted by Braden Klassen | March 3, 2010, 5:01 pm
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  7. I don’t think they will have a problem getting it through the house. If I recall during the period when the CRTC denied WIND and before Clement gave them a vary, there were Liberal MPs that were in support of Globalive.

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    Posted by J. Eng | March 3, 2010, 6:11 pm
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  8. Its awesome very good job !!!

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    Posted by Aftermarket Cellular | March 3, 2010, 8:59 pm
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  9. It’s about time. Now watch how fast Wind Mobile, and Mobilicity grow. Wind’s coverage will be growing at a faster rate now once this bill is passed and Orascom can just dump money to get them going and become an actual ‘National’ carrier in Canada.

    I’m actually curious to see what Bell/Telus/Rogers would say about all this.

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    Posted by Arshad | March 3, 2010, 11:53 pm
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  10. The only way I care about this is if it produces better value for voice-plans than what we currently have from the current big 3; it should also give us better data rates, rather then the bending over we are taking.

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    Posted by Trevor | March 4, 2010, 7:45 am
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  11. I think while the announcement may have highlighted the Telecom sector, and where some better competition may help with prices, it also means there are others _not_ in the telecom industry that will be affected.
    That would mean that yet more Canadian companies could be bought and be foreign-owned, and be downsized or closed at the whim or economics of that foreign investor.

    That is NOT good for Canadians in my view.

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    Posted by Glenn | March 4, 2010, 2:20 pm
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