The Canadian government is moving ahead with plans to reform the telecommunication industry by supporting increased foreign investment. Industry Minister Tony Clement will release a consultation paper to solicit feedback from both the industry and consumers on the proposal.
“We intend to move with prudence and undertake consultations,” said Mr. Clement during his keynote address at the Canadian Telecom Summit in Toronto.
Foreign investment in telecom companies is currently capped at 46.7 percent (a majority non-voting stake is allowed though).
Mr. Clement revealed little about what the consultation paper will hold but the focus will be on three key areas: Access to foreign capital for the incumbents, access to foreign venture capital for new players, and balanced rules for all the players.
The Canadian government will also solicit feedback on its plan at a new web site: Digitaleconomy.gc.ca.