Mirko Bibic, president and CEO of BCE and Bell Canada speaks during a CRTC hearing for Telecom Notice of Consultation CRTC 2019-57, Review of mobile wireless services, in Gatineau, Que., on Wednesday, Feb. 19, 2020. THE CANADIAN PRESS/Justin Tang
TORONTO – Bell Canada CEO Mirko Bibic is warning that increased regulation in Canada’s telecommunications industry could lead companies to scale back investment.
Speaking at a lunch hosted by Canadian Club Toronto, Bibic says there’s been a shift toward “micromanagement” of the telecom industry which has generated market uncertainty.
Bibic says an environment in which a regulator mandates how much Bell and its competitors charge smaller companies to access their broadband networks goes against his company’s goal of boosting connectivity, especially in smaller communities.
Earlier this year, Canada’s telecommunications regulator announced it would lower some wholesale internet rates by 10 per cent and review whether big companies should provide smaller competitors access to their fibre-to-the-home networks.
The CRTC says the move was aimed at improving internet speeds and bolstering competition.
Bibic says Ottawa and the CRTC should ensure Canada’s four major telecom companies have incentives to invest and differentiate themselves from each other, which would lead to more customer value.
This report by The Canadian Press was first published May 29, 2023.
Companies in this story: (TSX:BCE)
