Rogers-Shaw deal approved by feds in major Canadian telecom merger
CA, 31 Mar 2023
Rogers Communications Inc.’s proposed takeover of Shaw Communications Inc. will go ahead after it received the final sign-off it needed from Canada's Industry Minister François-Philippe Champagne.
"We will be monitoring the performance under these terms and conditions and making sure that we enforce the terms of these contracts on behalf of Canadians," he said.
The merger, a union between two Canadian telecom giants valued at $26 billion, including debt, has changed significantly in response to political and industry pressure since it was first announced in March 2021.
The final permutation of the merger will see Shaw sell its Freedom Mobile business and transfer wireless spectrum to Quebecor’s Videotron as the latter seeks to expand outside Quebec.
The industry minister said Friday his approval is subject to multiple conditions.
Shaw Communications and Corus Entertainment, the parent company of Global News, are owned by the Shaw family based in Calgary.
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