Thank you, Mr. Chair.
Gentlemen, good morning and welcome to the committee.
As Mr. Paradis said, we are principally here because of the Globalive issue. We are also here because the government expressed its intention, in the Speech from the Throne, of opening the satellite and telecommunications market to foreign ownership. Another reason for our meeting is the government ultimately deciding to include in its Budget Enforcement Act a clause on opening the telecommunications market.
The government did things backwards. It did not amend the Telecommunications Act or the Broadcasting Act. It sold spectrum licenses to Globalive for $442 million. The company came up with $500 million. It is to be expected that someone who puts up $500 million intends to have a say in the matter.
I will give you some context. CRTC had decided that the company was foreign-owned, but the government reversed the decision. Had the matter been handled according to the rules and gone through Parliament, and had an attempt been made to amend the Act to open the market to foreign ownership, do you not think that other companies would also have been interested in buying spectrum licences? Selling first and then having to issue an order to open the market to foreigners was not the best way to go about this.
Do you see a way to put a stop to opening the market to foreign investors? Of course, I am talking for those who wish to put a stop to this practice. Those in favour of it can also speak up.