OTTAWA/TORONTO, May 28 (Reuters) – Canada is pushing ahead
with plans to create a new but watered-down version of a
national securities regulator as its campaign to create a more
powerful watchdog like the U.S. Securities and Exchange
Commission appears to be headed toward failure.
The Conservative government’s new plan would bypass the
country’s powerful provinces and focus on detecting market risk,
sources familiar with the process told Reuters. This
alternative, however, is unlikely to impress investors and the
financial industry given its limited powers and the potential
for duplication and more bureaucracy, industry officials say.
TORONTO, May 24 (Reuters) – Manitoba Telecom Services Inc
will sell its Allstream fiber optic network to a
company controlled by telecom tycoon Naguib Sawiris for C$520
million ($502.8 million), a deal that signals the Egyptian
billionaire is still keen on the Canadian market.
Under an agreement announced on Friday, Accelero Capital
Holdings, which was founded by Sawiris and is stacked with
executives from telecom companies he owns or is invested in,
gets MTS’s Allstream network, which serves 50,000 business
TORONTO (Reuters) – Telus Corp, one of Canada’s biggest wireless phone companies, said on Thursday it will pay C$380 million ($370 million) for debt-laden Mobilicity, testing the resolve of a government committed to opening the market to smaller players.
The deal, already backed by some Mobilicity debt holders, must now wind its way through a regulatory obstacle course involving several agencies and approval is far from certain. But the two companies suggested the alternative was death for the loss-making upstart.
TORONTO, May 16 (Reuters) – Telus Corp, one of
Canada’s biggest wireless telephone companies, on Thursday said
it will pay C$380 million ($370 million) to acquire Mobilicity,
a recent entrant to the industry that helped force prices down
but failed to draw many customers.
Privately-held Mobilicity, whose formal name is Data &
Audio-Visual Enterprises Holdings Inc, has been losing money and
approached Telus because of its “strong customer focus,”
Mobilicity said in a statement.