Telecom company Telus says it’s fully compliant with foreign ownership rules

VANCOUVER – Telecom company Telus (TSX:T) says an allegation by smaller competitor Globalive that it is violating Canada’s foreign ownership rules is misleading.

Globalive has filed a complaint with the CRTC saying that foreigners hold more than the 33.3 per cent of Vancouver-based Telus that the rules allow.

But Telus spokesman Shawn Hall says Toronto-based Globalive incorrectly calculated the level of foreign ownership by using postal or zip codes of an account rather than actual residences.

Globalive, backed by Amsterdam-headquartered VimpelCom, has also faced questions in the past about its level of foreign ownership.