NOVEMBER 23, 2011, 3:18 P.M. ET
OTTAWA (Dow Jones)--Canada's industry minister said Wednesday the government has yet to decide on whether to liberalize the country's foreign-ownership rules as they apply to the telecommunications sector.
"No decisions with regard to the upcoming spectrum auction or on investment have been made yet," Christian Paradis told legislators during the daily question-period session in parliament. "Once a decision is made ... we will announce it clearly and directly."
He was responding to rumors and published reports that the Canadian government could issue a decision shortly on the future of Canada's foreign investment rules for telecom. Any changes to the rules would likely be accompanied by guidelines governing the sale of much-vaunted 700 megahertz of wireless spectrum.
Canadian law dictates foreigners cannot control more than 46.7% of voting rights in a telecom concern.
Paradis is scheduled next week to deliver a keynote address at a major telecom conference in Ottawa
http://online.wsj.com/article/BT-CO-20111123-712723.html
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