Might 7 (Reuters) – Canada’s Commissioner of Competitors intends to oppose Rogers Communications Inc’s (RCIb.TO) proposed C$20 billion ($16 billion) merger with Shaw Communications Inc (SJRb.TO), the businesses stated in a press release early Saturday.
The Commissioner of Competitors notified the businesses on Friday afternoon of its intention to file functions to the Competitors Tribunal opposing the merger.
The businesses have proposed full divesture of Shaw’s wi-fi enterprise, Freedom Cell, to deal with issues relating to the attainable affect of the merger deal on Canada’s aggressive wi-fi market.
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“Rogers and Shaw are engaged in a course of to promote Freedom Cell, with a view to addressing issues raised by the Commissioner of Competitors and ISED,” the businesses stated within the assertion, including that they continue to be dedicated to the merger.
Rogers introduced final yr that it was shopping for Shaw in a deal that may create Canada’s second-largest mobile and cable operator, nonetheless, buyers and analysts believed that regulatory dangers have been imminent. learn extra
In the meantime, the Globe and Mail reported on Friday that Rogers has requested telecom firm Quebecor Inc (QBRb.TO) to affix a bid for Shaw’s Freedom Cell.
Rogers declined to touch upon the Globe and Mail report.
($1 = 1.2905 Canadian {dollars})
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Reporting by Shivam Patel in Bengaluru; Modifying by William Mallard and Michael Perry
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