Industry Canada News
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Telus Corp., Canada’s third-largest wireless carrier, is in talks to buy Mobilicity, one of four companies that sought to challenge the country’s incumbents under government moves to boost competition, according to a person with direct knowledge of the deal.
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InsideClimateNews.org --
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Canada’s Industry Department will make an “important” announcement at 5 p.m. Ottawa time as the deadline approaches for a decision on Cnooc Ltd.’s bid for Nexen Inc. Nexen had its biggest decline in 15 months.
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Canada will limit the amount of wireless spectrum that large telecommunications providers such as BCE Inc. can acquire in an auction set to begin Nov. 19, the industry department said.
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Canada’s rejection of a bid by Malaysia’s state oil company for Progress Energy Resources Corp. casts doubt on Beijing-based Cnooc Ltd.’s $15.1-billion takeover of Nexen Inc. and raises questions about the openness of Prime Minister Stephen Harper’s government to foreign investment.
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Canada’s plan to allow foreign companies such as VimpelCom Ltd. to increase their stakes in the country’s telecommunications providers poses a “considerable risk” to national security, Public Safety Canada warned.
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David Lester , a London Stock Exchange Group Plc executive who met with Canadian government officials yesterday, said he doesn’t expect Industry Minister Christian Paradis to endorse or reject his company’s deal to buy TMX Group Inc. until after shareholders vote on June 30.
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Canadian Industry Minister Tony Clement will make a statement at 5:50 p.m. New York time today, his spokeswoman Lynn Meahan said in an e-mail message.
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Canada plans to change its foreign takeover legislation to make reviews more transparent as it seeks to assure business the country remains open to investment.
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Traders are regaining confidence that Progress Energy Resources Corp., battered last week after the Canadian government blocked its takeover by Malaysia’s Petroliam Nasional Bhd., will get bought after all.
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