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Minister of Industry Christian Paradis on Wednesday, March 14, announces the government will pass a law allowing non-Canadians to buy up to 100 per cent of domestic wireless firms that have a market share of 10 per cent or less.
Minister of Industry Christian Paradis on Wednesday, March 14, announces the government will pass a law allowing non-Canadians to buy up to 100 per cent of domestic wireless firms that have a market share of 10 per cent or less.
(Sean Kilpatrick/THE CANADIAN PRESS)

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Investors search for direction in wake of Petronas-Progress decision

Traders spent the weekend trying to get inside the head of Industry Minister Christian Paradis.

Investors, particularly hedge fund types, are wondering whether the federal Conservative government meant what it said when it told Malaysia’s Petronas it could not buy Canada’s Progress Energy Resources Corp. because it did not clear the “net benefit” test. Investors spent the past two days picking apart press releases looking for clues.