Rogers agrees with Canada’s competition bureau to put Shaw merger on hold
2022.05.31 00:36
FILE PHOTO: A person walks near the Rogers Communications building in Toronto, Ontario, Canada on October 22, 2021. REUTERS/Carlos Osorio/File Photo
TORONTO (Reuters) – Rogers (NYSE:ROG) Communications Inc on Monday said it will not proceed to close its proposed C$20 billion ($15.8 billion) purchase of Shaw Communications (NYSE:SJR) Inc until it reaches an agreement with the competition bureau or the competition tribunal gives its verdict.
Rogers has also agreed not enforce any agreements that are connected with the transaction on the grounds that such a move would “limit the operation, maintenance, enhancement or expansion of the Shaw Wireless Services business.”
Canada’s competition bureau has blocked the deal on the grounds that it would lessen competition in the telecom sector.
($1 = 1.2655 Canadian dollars)
