TORONTO — Rogers Communications Inc. has extended the deadline of its $26-billion proposed merger with Shaw Communications Inc. to Dec. 31 as the company's second quarter profit jumps.On the company's earnings call with analysts Wednesday, CEO Tony Staffieri said the decision to move the date reflects the commitment it and Shaw have to getting the deal done.
The Rogers-Shaw deal has received approval from the Canadian Radio-television and Telecommunications Commission, but still needs to get the greenlight from the Competition Bureau and Innovation, Science and Economic Development Canada. Adjusted profits were $463 million or 86 cents per share, compared with $387 million or 76 cents per share in the second quarter of 2021.
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Rogers, Shaw extend deadline for contested $26-billion merger until end of yearThe merger of Canada’s two largest cable companies is facing obstacles from the Competition Bureau, which argues it would cause higher prices and poorer service The Competition Bureau is attempting to block the merger of Canada’s two largest cable companies, arguing that it would result in higher prices and poorer service, particularly for wireless customers. alexposadzki alexposadzki Just when you thought you could get away from Rogers… we cancelled all our services with them due to ridiculous prices and horrid customer service. Been happy with Freedom for 8 years. Is there anyone that isn’t a sell out!?!?
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Rogers, Shaw extend merger deadline to end of yearRogers expects customer credits for its recent outage to cost US$150 million in the current quarter. Find out more. 🤨 So, we're kicking the can down the road until all this anger dissipates. They're going ahead with the merger, and the government corruption in Canada is permitting it.
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