Federal Industry Minister François-Philippe Champagne is planning to approve the transfer of Shaw Communications Inc.’s
Freedom Mobile to Quebecor Inc.
with conditions on Friday morning, paving the way for Rogers Communications Inc.
to complete its $20-billion takeover of Shaw.
Mr. Champagne is scheduled to hold a news conference at 8:30 a.m. regarding the competitiveness of Canada’s telecom industry, the government announced late Thursday. A source with knowledge of the announcement said the minister is planning to approve the transfer of Shaw’s wireless licences to Quebecor’s Videotron Ltd. with a number of conditions attached, as well as financial penalties associated with breaking those conditions. The Globe is not identifying the individual because they are not authorized to speak publicly about the matter.
The takeover of Shaw by Rogers, which would combine Canada’s two largest cable networks, was first announced two years ago. In order to prevent the deal from eliminating Canada’s fourth-largest wireless carrier, Rogers and Shaw have agreed to sell Freedom Mobile to Quebecor for $2.85-billion.
https://www.theglobe...akeover-friday/
Edited by Victoria Watcher, 31 March 2023 - 12:58 AM.