Rogers and Shaw have cleared a major hurdle as the companies work towards closing a $26 billion merger. (Photo: Canadian Press)

By Canadian Press

Rogers, Shaw welcome Tribunal’s clearing of merger path, extend closing

Dec 30, 2022 | 10:52 AM

OTTAWA, ON – Rogers Communications Inc. and Shaw Communications Inc. say they welcome the Competition Tribunal’s dismissal of an effort by the Competition Bureau to block their $26-billion merger as they extended the closing date by a month.

The Competition Tribunal issued a notice Thursday, December 29, 2022, that it had determined the merger was not likely to result in higher prices for wireless customers in Western Canada, and that it was satisfied the plan to sell Shaw’s Freedom Mobile to Quebecor Inc.’s Videotron was adequate to ensure competition isn’t substantially reduced.

The decision clears a path for the deal to go ahead, requiring only approval from federal Industry Minster Francois-Philippe Champagne.

Rogers and Shaw say they’re pleased with the decision and look forward to working with the minister to clear the final regulatory hurdle.

The companies also thanked the Tribunal for its swift decision, as they had set a closing date for the deal of Dec. 31, but said Friday they had extended the close to Jan. 31, 2023.

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Head of the Competition Bureau, Matthew Boswell, had argued that the merger of the two telecommunications companies would lessen competition in the telecom market, trigger higher prices and lead to a worsening of service, expressed dismay at the Tribunal’s decision.

“I am very disappointed that the Tribunal is dismissing our application to block the merger between Rogers and Shaw. We are carefully considering our next steps,” says Boswell.

Boswell adds that Rogers is likely to significantly increase its market share in the acquisition.

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