Rogers and Shaw Issue Statement on Commissioner of Competition’s Application for an Injunction ...
Rogers Communications Inc. ("Rogers") and Shaw Communications Inc. (“Shaw”) today provided the following statement upon being advised that the Commissioner of Competition is appealing the Competition Tribunal decision permitting Rogers’ proposed merger with Shaw and Quebecor’s acquisition of Freedom Mobile and applying for an injunction to prevent the proposed transactions from closing pending disposition of an appeal
TORONTO and CALGARY, Alberta, Dec. 30, 2022 (GLOBE NEWSWIRE) -- Rogers Communications Inc. ("Rogers") and Shaw Communications Inc. (“Shaw”) today provided the following statement upon being advised that the Commissioner of Competition is appealing the Competition Tribunal decision permitting Rogers’ proposed merger with Shaw and Quebecor’s acquisition of Freedom Mobile and applying for an injunction to prevent the proposed transactions from closing pending disposition of an appeal.
“We remain committed to these pro-competitive transactions that will bring more choice, more affordability and more connectivity to Canadians. The Tribunal’s decision was the right one, and the Tribunal was clear in its summary that the transactions we have proposed are not likely to substantially lessen competition in Alberta and British Columbia. Instead, as the Tribunal found, the transactions will likely result in an intensifying of competition. We are deeply disappointed that the Commissioner continues to attempt to deny Canada and Canadians the advantages that will come from these proposed transactions.”
In addition to the Competition Tribunal’s Summary of Decision on December 29, the Rogers combination with Shaw has already been approved by the shareholders of Shaw and the Court of King’s Bench of Alberta, and the transfer of Shaw’s broadcasting licences to Rogers has been approved by the Canadian Radio-television and Telecommunications Commission. The Rogers-Shaw merger is also subject to customary closing conditions. There is no certainty with respect to the timing or outcome of the Commissioner’s application for an injunction or the appeal.
Before Rogers’ merger with Shaw can proceed, the Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry, must also approve spectrum license transfers from Shaw to Videotron Ltd., a wholly-owned subsidiary of Quebecor, pursuant to the acquisition of Freedom by Quebecor.
