Article content

TORONTO — Ottawa moved Wednesday to open up the country’s wireless and telecom companies to foreign ownership for the first time, a move that could see major international operators and financial interests enter the domestic sector.

After months of fierce lobbying from industry stakeholders and at least one retreat back to the drawing board from policymakers, the Harper government said it will lift restrictions on wireless, Internet and phone companies that have less than 10% market share.

We apologize, but this video has failed to load.

tap here to see other videos from our team. Try refreshing your browser, or Ottawa opens door to foreign telecom ownership Back to video

The removal, designed to bolster competition — most notably in an $18-billion mobile market still dominated by established incumbents Rogers Communications Inc., BCE Inc. and Telus Corp. — mostly benefits new competitors such as Wind Mobile and Mobilicity.

[np-related]

The controversial decision means the smaller competitors to Rogers, Bell Mobility and Telus will gain access to additional foreign capital to sustain them as they attempt to wrest market share. It could also see U.S. giants like AT&T Inc. and Verizon Communications Inc. entering the market by acquiring a new entrant.