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Canada’s antitrust regulator knowledgeable Rogers Communications (NYSE:RCI) and Shaw Communications (NYSE:SJR) of its intention to oppose the $16 billion transaction.
Rogers (RCI) and Shaw stated they continue to be dedicated to the deal, in keeping with a joint statement Saturday. Rogers and Shaw plan to oppose the applying to forestall the deal made by the Commissioner of Competitors, whereas persevering with to “have interaction constructively” with the Competitors Bureau.
The businesses have been attempting to treatment the regulator’s considerations by way of proposing the complete sale of Shaw’s wi-fi enterprise, Freedom Cellular. Globalive Capital offered C$3.75 billion to purchase Freedom Cellular from Shaw (SJR), the Globe and Mail reported in March.
The Canadian antitrust opposition comes after The Canadian Radio-television and Telecommunications Fee agreed to allow the mixture in March.
Shaw and Rogers agreed to increase the skin date for the transaction till July 31 and the businesses will will proceed to hunt approval of the Transaction from the Ministry of Innovation, Science and Financial Improvement.
Approval from Canada’s federal innovation division might also show a troublesome process as Innovation, Science and Business Minister François-Philippe Champagne indicated in feedback in March.
“The wholesale switch of Shaw’s wi-fi licenses to Rogers is essentially incompatible with our authorities’s insurance policies for spectrum and cellular service competitors, and I’ll merely not allow it,” Champagne said at the time.
Rogers (RCI) introduced its settlement to amass Shaw (SJR) in March of last year.
