GATINEAU, Que. — The CRTC says it won’t be reviewing the level of foreign ownership in Vancouver telecom company Telus Corp.The Canadian Radio-television and Telecommunications Commission has denied a request by new wireless competitor Wind Mobile to review Telus’s foreign ownership.The CRTC says it’s satisfied with Telus’s mechanisms to comply with foreign ownership requirements, which must not exceed 33.3%.The federal regulator also says it does not consider there to be sufficient evidence of non-compliance by Telus to warrant a review.When Globalive made the complaint last summer, Telus had reported that its foreign ownership was 32.6%.More recently, Telus said its foreign ownership had dropped to about 15%, largely due to a U.S.-based hedge fund selling a chunk of its stake in the company.Telus spokesman Shawn Hall said Wednesday the decision verifies that Telus’s foreign ownership controls are effective.“The issue that Globalive put forward simply didn’t exist,” Hall said.Toronto-based Globalive is the parent company of wireless carrier Wind Mobile. The regulator said Wind Mobile failed to demonstrate that Telus’s board of directors had any reason to question information received about the level of foreign ownership.“Further, the commission is satisfied that Telus’s mechanisms for ensuring its compliance are consistent with the provisions and requirements established in the regulations,” the CRTC said in its decision.Telus has said its foreign ownership levels are measured daily and it’s a manual count of all shareholders.Telus had argued that Globalive had used reports from Broadridge Financial Solutions, which uses postal or zip codes from where account statements are mailed, rather than the actual citizenship of the owner to determine foreign ownership levels.The CRTC said that Wind Mobile noted that Broadridge reports didn’t provide conclusive evidence of non-compliance with foreign ownership, but the smaller telecom company had argued the reports raised questions about how Telus met foreign ownership requirements.The CRTC said that Broadridge reports do not use residential addresses of shareholders and that both parties had acknowledged that.The Canadian Press read more