Skip to content
Subscriber Only

Canada Hikes Ownership Limit for Bill Gates-Backed CN Rail

  • Invdividual ownership cap for railway increasing to 25 percent
  • Government also lays out new rights for airline passengers
Canadian National Railway trains pass through Toronto on Tuesday October 18, 2011.
Photographer: Brent Lewin/Bloomberg
Updated on

The Canadian government is lifting ownership restrictions for Canadian National Railway Co. and major airlines like Air Canada, among a series of steps to open up competition in the country’s transport sector.

The changes, unveiled in a law proposed Tuesday, would lift individual share ownership limit for Canadian National, Canada’s largest railroad, to 25 percent from the current 15 percent. Changes to airline rules also opened the door to joint ventures and codified a previously announced hike in the foreign ownership limit of foreign carriers, to 49 percent from 25 percent.