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Stock impact report

Canada Hikes Ownership Limit for Bill Gates-Backed CN Rail [Bloomberg Business News]

Canadian National Railway Company (CNI) 
Last canadian national railway company earnings: 4/27 04:01 pm Check Earnings Report
US:NYSE Investor Relations: cn.ca/en/investors
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. “It was a reasonable thing to increase that to 25 percent,” Transport Minister Marc Garneau said at a press conference in Ottawa. “We felt that this wasn’t fair to CN.” Bill Gates, the railway company’s biggest single shareholder, is among those that could benefit from the changes. Wheat growers expect the new rules to boost services available to them. Canada’s transport Show less Read more
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