Telecom company Telus says it's fully compliant with foreign ownership rules - InfoNews

Kelowna News and Business Directory

Current Conditions

Mostly Cloudy
14.3°C

Telecom company Telus says it's fully compliant with foreign ownership rules

A Telus employee speaks to customers at a Telus Mobility sales location in Toronto, May 5, 2011. THE CANADIAN PRESS/Darren Calabrese
June 21, 2012 - 1:05 PM

VANCOUVER - Telecom company Telus (TSX:T) says an allegation by smaller competitor Globalive that it is violating Canada's foreign ownership rules is misleading.

Globalive has filed a complaint with the CRTC saying that foreigners hold more than the 33.3 per cent of Vancouver-based Telus that the rules allow.

But Telus spokesman Shawn Hall says Toronto-based Globalive incorrectly calculated the level of foreign ownership by using postal or zip codes of an account rather than actual residences.

Globalive, backed by Amsterdam-headquartered VimpelCom, has also faced questions in the past about its level of foreign ownership.

News from © The Canadian Press, 2012
The Canadian Press

  • Popular kelowna News
View Site in: Desktop | Mobile