Telus says it never breached foreign ownership levels; discredits Globalive, Mason accusations

VANCOUVER – Telus says that it has always been compliant with Canada's foreign ownership restrictions for telecommunications companies, and called on the CRTC to dismiss the “misleading allegations” made by Globalive and Mason Capital. In a formal response to the Commission on Monday, the telco reported that as of June 29, 32.59% of its voting shares were held by non-Canadians, an amount that falls just below the federal limit of 33.3%. This includes the holdings of its shareholder Mason, a New York-based hedge fund, which recently reported that it held a 19.98% ownership stake of Telus’ common shares. "Globalive relies on...