Canada's cell phone rates are among the worst in the world. We have only 3 large cell companies. We need to open up the market to competition. Apparently this is very likely. I urge HM Government to open up the cell phone market to world wide competition.
By Paul Vieira and Ben Dummett
Of DOW JONES NEWSWIRES
OTTAWA (Dow Jones)--The Canadian government could signal this week it's ready to accept increased foreign investment in the country's telecommunications industry, in an effort to spur competition in the fast-growing and profitable wireless sector.
Two government-commissioned panels have recommended liberalization in recent years, and the Conservative government of Prime Minister Stephen Harper has promised to boost competition, in order to lower prices. Canada's Industry Minister, Christian Paradis, has said recently the government hasn't yet made any decision on its plans for the sector, in which foreign ownership has long been circumscribed.
Still, industry watchers say that two high-profile appearances this week by Paradis could be opportunities for the government to signal its intentions. The minister is slated to deliver remarks at a major industry conference in Ottawa on Tuesday. He then meets with Wall Street analysts Friday. Representatives for Paradis didn't return requests for comment.
Telecoms is among a handful of industries--along with broadcasting and airlines--that are subjected to specific limits on foreign investment in Canada. Foreigners are prohibited from owning more than 46.7% of the voting shares of a telecoms company.