UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. INITIAL )*
CALL-NET ENTERPRISES INC.
(Name of Issuer)
CLASS B SHARES
(Title of Class of Securities)
130910201
(CUSIP Number)
Check the following box if a fee is being paid with this statement [ ].
(A fee is not required only if the filing person: (1) has a previous
statement on file reporting beneficial ownership of more than five percent
of the class of securities described in Item 1; and (2) has filed no
amendment subsequent thereto reporting beneficial ownership of five percent
or less of such class.) (See Rule 13d-7).
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to a ll other provisions of the Act (however,
see the Notes).
Page 1 of 4 Pages<PAGE>
CUSIP No. 130910201 Schedule 13G Page 2 of 4
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Mackenzie Financial Corporation
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)
(b) X
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Toronto, Ontario, Canada
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
5. SOLE VOTING POWER
1,205,141 Shares
6. SHARED VOTING POWER
Nil
7. SOLE DISPOSITIVE POWER
1,205,141 Shares
8. SHARED DISPOSITIVE POWER
Nil
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,205,141 Shares
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES.*
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.6%
12. TYPE OF REPORTING PERSON *
IA<PAGE>
Schedule 13G Page 3 of 4
Item 1(a) Name of Issuer
CALL-NET ENTERPRISES INC.
Item 1(b) Address of Issuer's Principal Executive Offices
400-2550 Victoria Park Avenue
North York, Ontario M2J 5A9
Item 2(a) Name of Person Filing
Mackenzie Financial Corporation
Item 2(b) Address of Principal Business Office
150 Bloor Street West, Suite M111
Toronto, Ontario M5S 3B5
Item 2(c) Citizenship
Organized in Toronto, Ontario, Canada
Item 2(d) Title of Class of Securities
Class B Stock
Item 2(e) CUSIP Number
130910201
Item 3 If this statement is filed pursuant to Rules 13d-1 (b) or 13d-2 (b),
check whether the person filing is a:
(a) [ ] Broker or Dealer
(b) [ ] Bank
(c) [ ] Insurance Company
(d) [ ] Investment Company
(e) [ X ] Investment Adviser
(f) [ ] Employee Benefit Plan, Pension Fund or Endowment Fund
(g) [ ] Parent Holding Company
(h) [ ] Group
Item 4 Ownership
(a) Amount Beneficially Owned
1,205,141 Shares
(b) Percent of Class
5.6%
(c) Number of shares as to which such person has:
(i) sole power to vote 1,205,141 Shares
(ii) shared power to vote Nil
(iii) sole power to dispose 1,205,141 Shares
(iv) shared power to dispose Nil<PAGE>
Schedule 13G Page 4 of 4
Item 5 Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the date hereof
the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following [ ].
[ X ] Not applicable
Item 6 Ownership of More than Five Percent on Behalf of Another Person
Several accounts managed by Mackenzie Financial Corporation have the right to
receive dividends and the proceeds from the sale of these securities, none
of which own more than 5% of the common stock of Call-Net Enterprises Inc.
except Universal Canadian Growth Fund Limited, a Canadian Mutual Fund
Corporation.
Item 7 Identification and Classification of the Subsidiary Which Acquire the
Security Being Reported on By the Parent Holding Company
N/A
Item 8 Identification and Classification of Members of the Group
N/A
Item 9 Notice of Dissolution of Group
N/A
Item 10 Certification
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the effect
of changing or influencing the control of the issuer of such securities and
were not acquired in connection with or as a participant in any transaction
having such purposes or effect.
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete
and correct.
Harold P. Hands
Executive Vice President, Legal November 22, 1996
