Thank you, witnesses, for being here today.
This might sound like a third or fourth generation question, but I've been on the committee off and on since 1995, so some of these things sound familiar. And at times I've missed the odd report; I was on the wrong side.
Fido, Clearnet.... I recall that company from my riding, Clearnet, successfully bidding for, in 1995-96, and getting, with relative ease of capital, the purchase of spectrum and the auction that took place then. It continues to be a question of whether or not foreign investment itself is really necessary. It seems to be a substantial pool of money that is made available. The question comes on foreign ownership, the control or not control of voting shares.
I'm just wondering, because we seem to give the impression that there are substantial restrictions to foreign investment, but that really is qualified, if I'm correct, simply on voting shares. Are those the restrictions that exist? You can have a company whose debt is technically 100% controlled by foreign investment. Is that correct?