[Congressional Record Volume 147, Number 154 (Thursday, November 8, 2001)]
[Senate]
[Page S11625]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. HOLLINGS:
  S. 1668. A bill to amend the Communications Act of 1934 to strengthen 
the limitations on the holding of any license permit, operating 
authority by a foreign government or any entity controlled by a foreign 
government; to the Committee on Commerce, Science, and Transportation.
  Mr. HOLLINGS. Madam President, today I reintroduce legislation to 
clarify rules governing the takeover of U.S. Telecommunications 
providers by companies owned by foreign governments. The original rules 
in this area were established by statute in the 1930s, and while the 
law has not changed, the FCC's interpretations of this statute has.
  Today's legislation is almost identical to the legislation that I 
introduced last year on this topic. I am pleased to announce that this 
year I am joined in the effort by the Chairman of the House Energy and 
Commerce Committee, Billy Tauzin.
  In the intervening year the FCC has approved several transactions 
involving foreign governments. I am disappointed by these actions and 
believe that they involve a misreading of the current statute.
  The legislation I introduce today will bar outright the transfer or 
issuance of telecommunications licenses to providers who are more than 
25 percent owned by a foreign government. It would also bar the 
transfer of such licenses to companies controlled by a foreign 
government.
  My reasons for introducing this legislation have not changed from 
last year. Nevertheless the events of the past year confirm more than 
ever my conviction that foreign governments should not be permitted to 
own U.S. telecommunications licenses.
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