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Rogers, Shaw fail to reach agreement with competition regulators on proposed merger

Rogers Communications Inc. and Canada’s competition regulator have not settled their differences over the telecom giant’s proposed $26 billion acquisition of Shaw Communications Inc. after weeks of mediation and talks.

In a joint press release Thursday night, Rogers, Shaw and Quebecor Inc. say they are “disappointed” that the arbitration meeting did not result in a negotiated settlement.

They say they remain committed to completing the transaction.

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Rogers, Shaw stocks rise amid hopes of merger approval following Ottawa intervention

The fight is now being postponed to public hearings before the competition court, which are scheduled to begin on November 7 and could drag on until mid-December.

The Competition Bureau has tried to block the deal, arguing that the transaction would result in worse service and higher prices for consumers.

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Earlier this week, Industry Minister Francois-Philippe Champagne set new terms for the deal, specifically targeting the sale of Shaw-owned wireless operator Freedom Mobile to Quebecors Videotron, a key component of the proposed transaction.


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Ottawa rejects Rogers-Shaw deal


© 2022 The Canadian Press



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