Canada competition bureau says litigation in Rogers-Shaw M&A doesn’t stop a settlement
2022.05.13 18:06
FILE PHOTO: A person walks near the Rogers Communications building in Toronto, Ontario, Canada on October 22, 2021. REUTERS/Carlos Osorio
By Divya Rajagopal
TORONTO (Reuters) – Canada’s competition bureau said on Friday that its decision to start litigation to block Rogers (NYSE:ROG) Communications’ C$20 billion ($15.5 billion) bid for Shaw Communications (NYSE:SJR) does not prevent the parties and the bureau from reaching a settlement.
“The Bureau in its application discusses certain divestitures that Rogers has proposed to address our competition concerns,” a spokesperson for the Competition Bureau told Reuters in a statement. But the proposed divestitures will not eliminate the substantial lessening of competition and any remedy proposal would be assessed individually, the statement added.
“The commencement of litigation does not prevent the parties and the Bureau from reaching an agreement to remedy the competition concerns at any time,” it said.
($1 = 1.2928 Canadian dollars)
