Finance committee  I'm sorry, I can't speak to the private shareholders. These are private companies. As I say, I can speak to Telesat because he's spoken on the record.

Finance committee  Well, the two principal shareholders are Loral and the Canada Pension Plan Investment Board.

Finance committee  Loral Skynet, which is out of the U.S., yes.

Finance committee  That is correct.

Finance committee  You're quite correct that the Speech from the Throne did make a general commitment--I believe the words were to the effect of opening the doors of the telecommunications industry to further foreign investment. This particular amendment to the Telecommunications Act deals with one narrow portion of that commitment--that is, as it would affect the satellite sector.

Finance committee  That's correct, yes.

Finance committee  Iit's actually the satellite company, and the rules that apply to the satellite industry are those that apply generally to all telecommunications carriers. And in the legislation there are effectively three requirements: the company that is the carrier has to have no less than 80% voting shares held by Canadians; the board of directors must be composed of 80% Canadians, as a minimum; and the company must be controlled in fact by Canadians.

Finance committee  That's correct.

Finance committee  Not that I'm aware of. They're all privately traded, as I understand.

Finance committee  Obviously what they do or don't do is going to be a private business decision. Mr. Goldberg has indicated that one of the options they may pursue is an IPO, but as I said, that will be the company's choice.

Finance committee  I'm sorry, he's the CEO of Telesat, the largest provider.

Finance committee  As I said, you'd have to ask Mr. Goldberg what his intentions are.

Finance committee  Yes. I'm not an expert in the Investment Canada Act, but I can tell you that the Investment Canada Act would apply if the assets of the company were above the threshold that is in there.

Finance committee  I believe that's correct, yes--$298 million, as I recall.

Finance committee  As I've mentioned, Telesat's CEO did give testimony this week, and I believe, based on his testimony, their asset value is above that threshold.