Stock Market News
Canada’s Competition Bureau continues to block Rogers-Shaw deal, says proposed remedy not enough
2022.06.17 23:30
The Rogers Building, home of Rogers Communications in Toronto, Ontario, Canada October 22, 2021. REUTERS/Carlos Osorio
OTTAWA (Reuters) – Canada’s anti-trust regulator said on Friday that the merger of Rogers (NYSE:ROG) Communications and Shaw Communications (NYSE:SJR) should not go ahead on grounds that the deal poses threats to competition in Canada and the efficiencies claimed by the companies were not enough to offset the anti competitive nature of the transaction.
The bureau continued with its assertion that the sale of Shaw’s Freedom mobile was not an effective remedy for the merger.
The Competition Bureau was responding to the petition filed by Rogers and Shaw earlier this month.
