Wind blows whistle on rival’s ‘foreign’ shareholder addresses; Telus tells Wind to zip it

Canadian cellco Globalive Wireless (Wind Mobile) has filed a complaint to the Canadian Radio-television and Telecommunications Commission (CRTC) calling into question whether the concentration of ‘foreign’ funding at its larger rival, Telus, breaks the country’s overseas ownership restrictions on telecoms companies. Reuters reports that Orascom/Vimpelcom subsidiary Wind, which itself survived a high-profile foreign funding inquisition from the same regulator, has submitted a filing suggesting that almost half of Telus’ voting shareholders are ‘not Canadian’ as they have registered addresses outside Canada. Canadian law currently bars foreigners from owning more than one third of the voting shares in telcos – and while this restriction is set to be abolished for smaller operators such as Wind pending the enacting of new legislation, the limit will remain in place for the largest groups including Telus

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OVETEL Wind blows whistle on rival’s ‘foreign’ shareholder addresses; Telus tells Wind to zip it