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The Globe and Mail
Published
Cisco studies Canada
The chief executive officer of Cisco Systems Inc. appears to love Canada, so much so that he’s considering investing in what he calls “the easiest place in the world to do business.”
The chief executive officer of Cisco Systems Inc. appears to love Canada, so much so that he’s considering investing in what he calls “the easiest place in the world to do business.”
Of course, there’s more at play here, primarily his failed attempts to change the U.S. government’s mind on how it taxes companies and the amount of money they hold outside the country.
But, hey, if John Chambers wants to put some of that $46-billion (U.S.) to work here, it’s okay with us.
Mr. Chambers said in an interview with The Financial Times that he was studying the possibility of investing part of Cisco’s cash in Canada and Europe, having given up on pressing the U.S. government on double-taxing repatriated cash.
The chief of the tech giant did not say where or how the cash could be used, only that Canada and Europe would be “likely” targets and that the move could be soon, according to the business publication.
“In terms of our overall approach we’re going to go wherever the start-ups are and where the governments are that really want us,” Mr. Chambers, in Barcelona for a conference, told The Financial Times.
“The easiest place in the world to do business is Canada. Their prime minister gets it. They make it easy for me to invest and do acquisitions there; they have a great education program and they have a great immigration policy.”
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