15:10 ET - Canada's breakneck population growth will no longer be a tailwind for the country's telecom companies now that the government plans to curb immigration. Analysts at Bank of America note that in 2022-2023, Canada added nearly 2.3 million non-permanent and permanent residents and it is estimated this will be around 800,000 for 2024. But no longer, analysts say, since the government aims to reduce the percentage of non-permanent residents from more than 7% of the population to 5% by 2026. With the expected cuts, "wireless net additions could be volatile as a result... and both net additions and churn should be impacted by the decline of more than 800,000 non-permanent residents." (adriano.marchese@wsj.com)
(END) Dow Jones Newswires
January 14, 2025 15:10 ET (20:10 GMT)
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