GATINEAU, Que. - Canada's Internet market is already highly competitive and should not be regulated further, says one of the country's largest players.

Bell Canada is telling the telecom regulator its investment in so-called fibre-to-home technology would slow or stop should it be forced to offer smaller competitors greater access to its networks.

The Canadian Radio-Television and Telecommunications Commission is reviewing whether to further regulate the wholesale telecommunications services to foster more competition.

But Bell told hearings in Gatineau, Que., that mandating more open access to its fibre networks would lessen competition because it would be unable to continue investing in faster network connections.

There are more than 500 Internet service providers across Canada, yet the top five players -- Bell, Rogers, Quebecor, Telus and Shaw -- own the vast majority of market share.

Fledgling firms such as Primus say the current market situation should worry consumers.