OTTAWA (Reuters) - Canada's Competition Bureau said on Friday it is suing the country's three leading phone companies for what it said was the promotion of costly premium texting services, while giving the impression that they were free. It is seeking C$10 million ($10.3 million) each from BCE Inc's Bell Canada, Rogers Communications Inc , and Telus Corp , in addition to asking them to make full refunds to customers. "Our investigation revealed that consumers were under the false impression that certain texts and apps were free," said Competition Commissioner Melanie Aitken. ...
OTTAWA — John Pecman, the interim head of Canada’s Competition Bureau, has been chosen to fill position full time.
Industry Minister Christian Paradis announced the five-year appointment of Mr. Pecman on Wednesday, replacing Melanie Aitken — who stepped down in September after leading the bureau since 2009.
Mr. Pecman was named interim commissioner shortly after Ms. Aitken’s departure.
Shares of Canada’s big three wireless providers were trading sharply down as markets opened Wednesday following reports that U.S. giant Verizon Communications Inc. has made an offer to buy Wind Mobile.
Rogers Communications Inc. and Telus Corp. both saw their stock drop around 9% within the first 15 minutes of the trading day while BCE Inc.’s shares were down about 5%.
By 10:30 a.m, Rogers shares were down about 8.4%, Telus had dropped 6.4% and BCE shares had lost 4%.
Wireless operators are seeing their revenues per user from voice and texting fall off, and revenues from data are not offsetting those losses. This is putting considerably more pressure on mobile carriers to find other sources of revenues.
The chief executive and founder of Wind Mobile is headed for the exit, saying Friday he plans to step down to focus on a new venture capital fund.
With the departure of Toronto-based entrepreneur Tony Lacavera, Wind Mobile is left in the hands of foreign conglomerate VimpelCom Ltd., whose patience with the scrappy but still money-losing carrier may well run out sooner rather than later.
ByCrumb's Observer:Wireless payments have recently hit a major milestone as the first NFC enabled mobile payment in Canada occurred just last month. In fact, many of the major North American wireless carriers have formed joint ventures to make mobile payments a reality.
The Competition Bureau on Wednesday cleared the way for the Maple Group consortium of Canadian banks and pension funds to take over Canada's stock exchanges.The consortium last year launched a $3.8 billion bid for TMX Group, which operates the Toronto and Montreal stock markets, after a rival effort to merge the London Stock Exchange and Toronto's bourse was scrapped.In a statement, Commissioner of Competition Melanie Aitken said she won't "challenge the proposed transaction."
Melanie Aitken, the federal competition commissioner, has sent a shot across the bow of virtually any Canadian company that uses an asterisk in its advertisements after fining Bell Canada Inc. $10-million for misleading consumers