A speech from the throne today showed a possibility for foreign ownership of the telecommunications industry in Canada. Due to the high prices among mobile phone service bills there is a large push to make the cellular market more affordable for Canadians. This does not necessarily mean that giants like Bell, Telus, and Rogers will get bought out by foreign investors but instead means that smaller, start-up networks could receive more foreign funding to help them get going. These networks could cause competition to the larger networks, hopefully driving down mobile service prices in Canada.

“Our government will open Canada’s doors further to venture capital and to foreign investment in key sectors, including the satellite and telecommunications industries, giving Canadian firms access to the funds and expertise they need.”

Currently the federal Telecommunications Act restricts foreign ownership to 20 percent of the shares of a telecommunications common carrier in Canada. But from the looks of things Canada is looking to change this limitation in order to reduce monopolization in the cellular provider market.

What do you guys think? Is this a good move for Canadian wireless service? Tell us your thoughts in the comments.

To read the article in its entirety via the Globe and Mail click here