Please feel free to copy it and send it to them .... perhaps we can block this sale through our politicians.
I am an investor in a company called Look communications who have recently arranged through a pre-approved shareholder vote to put its assets up for sale without further approval. The sale process is court supervised to ensure a transparent outcome to those bidding on the assets.
To my horror, yesterday they agreed to sell 92 mhz of spectrum to Bell and Rogers which will do nothingmore than solidify their oligopolistic position and control over the airspace used for spectrum and wireless data transmission.
From a competition standpoint this is catastrophic. I have sited two articles in recent times one from the team commissioned to improve Canada's ability to compete
Canada's "Compete to Win" Report Recommends Opening Canada to Foreign Investment
- Allowing foreign firms to establish or acquire Canadian telecommunications companies with less than a 10% market share, and, following a review of broadcasting and cultural policies, further liberalizing investment restrictions in the telecom and broadcasting sectors;
Consumers and businesses are exasperated by high cellphone prices and low adoption, which critics say are putting Canada at a competitive disadvantage with other countries. (AP Photo/Manu Fernandez)
The other speaks for itself
Bill C-555: McGuinty fights for cell phone fairness
In Depth
Cellphones
The real cost of high prices
A lack of competition between cellphone carriers is having a very real negative effect on businesses and the economy as a whole, experts say
Last Updated November 20, 2007
By Peter Nowak, CBC.ca
THE PROBLEM
Canada pays the highest cellphone bills in the developed world, and has the lowest cellphone adoption rate.
Last years spectrum auction specifically prohibited Bell, Rogers and Telus from being able to bid on a much smaller and less strategic amount of spectrum then they would be acquired by Bell and Rogers should this transaction be allowed to proceed.
I am asking our MPs and specifically the Minister of Industry to review this transaction and decide if this is for the public good before proceeding with this transaction.
Although such a decision could be detrimental to the shareholders including myself, the lack of competition will continued to negatively affect all Canadians.
yours truly,
orgy
