If you are a film maker looking for a solid Canadian story…the Globalive saga would make for a great movie or documentary. Over the past few hours there has been some great articles about the situation and how the CRTC has stated that “Globalive does not meet Canadian ownership rules”.
Here are a few that are worth reading:
MobileSyrup: We have a short interview with Tony
Bloomberg: “Globalive Not a Canadian Company, Regulator Rules”
Globe and Mail: “Globalive cellphone battle headed to cabinet ”
CBC: CRTC says No to Globalive
Reuters: “Globalive to appeal against Canada ruling-paper”
In addition to the above, Jeff Fan, Warren Hastings, Anubhav Mehla of Scotia Capital sent out a summary titled “A Setback for Globalive”. The report (get the PDF here) gives a great summary of why the CRTC decided that Globalive is not currently eligible, what the implications are and more importantly what they believe the next steps are:
“We believe some of Globalive’s options include:
1. Make the changes to satisfy the CRTC. The most challenging aspect of this option
is reducing Orascom’s debt financing.
2. Court of Appeal. Globalive may not win and timing is uncertain.
3. Petition to Cabinet. Globalive may not win and timing is uncertain.”