As Mr. Goldberg explained, they have a foreign partner—Loral Skynet—and they are more or less at the limit in terms of their ability to issue shares to non-Canadians. They are seeking the flexibility to potentially acquire other smaller companies through share exchanges. For example, if they wanted to acquire a smaller satellite provider that offers service in the Middle East, where they actually have a gap--Telesat is not in a position to offer service there--they could do a share swap. Right now they can't because they would not be able to offer shares to foreigners.
On May 5th, 2010. See this statement in context.