Globalive not Canadian enough, CRTC says

OTTAWA-GATINEAU - Globalive does not meet the Canadian ownership requirements set out in the Telecommunications Act, the CRTC ruled late Thursday.Under the legislation, a telecommunications company is only eligible to operate in Canada if it is not at any time owned and controlled, in law and in fact, by non-Canadians. Egypt-based operator Orascom Telecom, which has about 78 million subs world-wide, is providing much of the funding and the Wind brand name for Globalive.During its proceeding, the Commission examined the influence of Orascom over Globalive’s business decisions and day-to-day operations. Despite the fact that Globalive made structural changes to reduce...