Market Herald logo

Subscribe

Be the first with the news that moves the market
  • The Competition Tribunal’s decision permits Rogers’ proposed merger with Shaw and Quebecor’s acquisition of Freedom Mobile
  • The Commissioner of Competition is appealing the decision and applying for an injunction to prevent the proposed transactions from closing, pending an appeal
  • The transaction has been approved by the shareholders of Shaw, the Court of King’s Bench of Alberta and the Competition Tribunal
  • Rogers is a Canadian technology and media company that provides communications services and entertainment to consumers and businesses
  • Rogers Communications Inc. Class A opened trading at C$65.00

Rogers (RCI) and Shaw (SJR) have issued a statement in response to the Commissioner of Competition’s appeal of the Competition Tribunal’s approval of the merger.

The Commissioner of Competition is appealing the previously-announced Competition Tribunal decision permitting Rogers’ proposed merger with Shaw and Quebecor’s acquisition of Freedom Mobile and applying for an injunction to prevent the proposed transactions from closing, pending an appeal

“We remain committed to these pro-competitive transactions that will bring more choice, affordability and connectivity to Canadians. The Tribunal’s decision was the right one, and the Tribunal was clear in its summary that the transactions we have proposed are not likely to substantially lessen competition in Alberta and British Columbia. Instead, as the Tribunal found, the transactions will likely result in an intensifying of competition. We are deeply disappointed that the Commissioner continues to attempt to deny Canada and Canadians the advantages that will come from these proposed transactions.”

In addition to the Competition Tribunal’s Summary of Decision on December 29, the transaction has already been approved by the 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.

There is no certainty with respect to the timing or outcome of the Commissioner’s application for an injunction, or the appeal.

Before Rogers’ merger with Shaw can proceed, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, must also approve spectrum license transfers from Shaw to Videotron Ltd., a wholly-owned subsidiary of Quebecor, under the acquisition of Freedom by Quebecor.

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$30.25.

Shaw Communications – Class B opened trading at C$39.01.

Rogers Communications Inc. Class A opened trading at C$65.00.


More From The Market Herald
Kraken Energy - Senior Geologist, Madeline Berry

" @ the Bell: TSX rebounds on energy & mining rally

Canada’s main stock index bounced back from earlier losses among the technology and utility sectors to close higher on Tuesday, thanks to an
01 Communique - Founder and CEO, Andrew Cheung.

" 01 Communique (TSXV:ONE) launches world’s first quantum-safe secure remote access

01 Communique (ONE) has upgraded its remote access service, I’m InTouch, using quantum mechanics.
Featured Video Play Icon

" Datametrex AI (TSXV:DM) subsidiary Nexalogy announces pending launch of AnalyticsGPT

Datametrex AI (DM) subsidiary, Nexalogy Environics, is working towards launching AnalyticsGPT (Analytics Generative Pre-Trained Transformer).

" Copper Lake Resources (TSXV:CPL) begins winter drilling at Marshall Lake

Copper Lake Resources (CPL) has started a winter diamond drilling program on its Marshall Lake Property in northwestern Ontario.