Canada Blocks Network Sale To Egypt’s Sawiris, Citing Security

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The government declined to comment further. TAKEOVERS RARELY BLOCKED Canada has rarely used its veto power to block a foreign acquisition of a Canadian asset under the Investment Canada Act. The legislation gives the government wide-ranging powers to review whether such deals are of “net benefit” to the country and whether they pose a threat to national security. In 2010 it blocked mining giant BHP Billiton’s $39 billion bid for the world’s top fertilizer company Potash Corp, stating that the deal was not of “net benefit” to Canada. This followed a 2008 decision to block MacDonald Dettwiler’s attempt to sell its satellite division to Alliant Techsystems Inc, due to national security concerns. The rejection of the Allstream deal comes as struggling smartphone maker BlackBerry Ltd, one of Canada’s best- known technology companies, is in talks with foreign players including Cisco Systems, Google Inc and SAP about selling them all or parts of itself, sources have told Reuters. Accelero said in a statement it was “very disappointed” by the Canadian government’s unexpected rejection of its proposed acquisition of Allstream. “Throughout this process, we were comforted by Industry Canada that our filings were in order, our submissions complete and constructive, and our proposed binding undertakings serious and substantive so that the transaction would meet the ‘net benefit’ test,” Sawiris said in the statement. “We are disappointed by the Government of Canada’s unfounded and unexpected decision.” The decision also raises questions about the government’s stated goal of attracting foreign investment to boost competition in the telecom sector. The government was locked in a war of words with Canada’s top telecom players – Rogers Communications, BCE Inc and Telus Corp – over most of the summer. The three Canadian telecom giants accused the government of skewing rules for its wireless spectrum auction that began last month in favor of foreign players. The government countered that its rules were designed to boost competition in the sector and reduce prices for Canadian consumers. The issue became a moot point last month, after no major foreign telecom player registered to participate in the auction process. Accelero said it believes its investment in Allstream would have contributed to increased competition in Canada’s telecom sector and sent a strong message that Canada’s telecom sector is open to foreign investment.

Canada hiring more Filipinos to fill out 14,000 job vacancies

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Government of Canada Rejects MTS Sale of Allstream to Accelero Capital Holdings

Patinio, Philippine News Agency October 8, 2013 2:45 AM InterAksyon.com The online news portal of TV5 MANILA, Philippines – Job opportunities await many Filipinos planning to work in Canada with the signing of a Memorandum of Understanding (MOU) between the Department of Labor and Employment (DOLE) and the Canadian government. With the MOU, Labor undersecretary Danilo Cruz said that the signing of the agreement will open possible work prospects for Filipino workers as the Canadian government is looking at the Philippines and other Asian countries to fill out at least 14,000 job vacancies in Saskatchewan to keep up with the labor demands of its still growing economy. Over the last four years, the Philippines has become the largest source country for both immigrants and temporary workers for Canada, overtaking China and India as the traditional sources, he said at the sidelines of the signing held in Makati City on Monday. Cruz, together with the contingent from Saskatchewan province of Canada led by its Premier, Brad Wall, signed the MOU which aims to upgrade the provision of the previous MOU between both countries in 2006. According to the Canadian official, some employers from Saskatchewan, which is one of the economic powerhouses in Canada, are currently here in the country to hire workers for an initial 150 job vacancies. However, he noted that they expect to hire more workers in the coming months. Not very long ago, we have a hundred (migrants) per year. Now we have about 3,000 per year and we still have a labor shortage, Wall added. The updated MOU will contain the following new provisions: identification of cooperation priorities; exchange of information; prohibition of charging of recruitment fees to workers; enjoining the employers recruiting overseas Filipinos workers (OFW) outside the Philippines to course hiring in the nearest Philippine Overseas Labor Office (POLO); enforcement of regulations to protect workers. Among the most in-demand jobs in Canada are in the fields of business, natural and applied sciences, health, social science, education, government service, trade, transportation, oil and gas processing and manufacturing. If you go in a website called Saskjobs.Ca today there are usually around 10,000 unfilled jobs.