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Be the first with the news that moves the market- The outside date of the proposed transactions has been extended to February 17, 2023
- Innovation, Science and Economic Development Canada (ISED) must approve the transfer of spectrum licenses from Shaw to Videotron before the Rogers/Shaw combination can proceed
- The Federal Court of Appeal dismissed the appeal by the Commissioner of Competition of the tribunal’s rejection of the Commissioner’s challenge of the proposed combination of Rogers and Shaw
- Rogers is a leading Canadian technology and media company
- Quebecor is a leader in telecommunications, entertainment, news media and culture
- Shaw Communications is a Canadian cable company
Rogers Communications (RCI.A) Shaw Communications (SJR.A) and Quebecor (QBR.A) have extended the outside date of the proposed merger to February 17, 2023.
Innovation, Science and Economic Development Canada (ISED) must approve the transfer of spectrum licenses from Shaw to Videotron – in connection with the proposed acquisition of Freedom Mobile by Videotron – before the combination of Rogers and Shaw can proceed.
In a ruling from the bench on January 24, 2023, the Federal Court of Appeal dismissed the appeal by the Commissioner of Competition of the December 31, 2022, decision of the Competition Tribunal. The Tribunal had rejected the Commissioner’s challenge of the proposed acquisition of Freedom Mobile by Videotron and the combination of Rogers and Shaw.
In addition to the decisions of the Federal Court of Appeal and the Competition Tribunal, the Rogers-Shaw merger has already been approved by the common shareholders of Shaw and the Court of King’s Bench of Alberta, and the transfer of Shaw’s broadcasting licences to Rogers has been approved by the Canadian Radio-television and Telecommunications Commission.
Québec-based Quebecor is an integrated communications company.
Rogers is a Canadian technology and media company that provides communications services and entertainment to consumers and businesses.
Shaw is a leading Canadian connectivity company.
Quebecor Inc.- Class A opened trading at C$32.36.
Shaw Communications – Class A opened trading at C$39.75.
Rogers Communications Inc. Class A opened trading at C$66.50.
