Federal Budget: Satellite approved for foreign ownership; no mention of telecom, broadcast

By Lesley Hunter

OTTAWA – It remains to be seen how far Canada will crack open the door to foreign investment for our telecommunications companies.Despite hints from Governor-General Michaelle Jean during Wednesday’s throne speech that the Government would loosen regulations around the entire telecom industry, Thursday’s new Federal Budget only mentioned Canada’s satellite telecommunications sector by name. “Consistent with the recommendations of the Competition Policy Review Panel, the Government is acting in Budget 2010 to remove the existing restrictions on foreign ownership of Canadian satellites”, it reads. “This will allow firms to access foreign capital and know-how and to invest in new and advanced technologies. The...