TORONTO — The head of Rogers Communications Inc. pledged to lower costs for customers and brushed aside competition concerns after the company closed its $26-billion purchase of Shaw Communications Inc. on Monday.
The deal, which was first announced in March 2021, cleared its final regulatory hurdle last week after Industry Minister François-Philippe Champagne agreed to the transfer of Shaw-owned Freedom Mobile’s wireless licences to Quebecor Inc.’s Videotron. Rogers must also spend $5.5 billion to expand 5G coverage and additional network services, as well as a further $1 billion to connect rural, remote and Indigenous communities.
"We fully expect Canadians to hold us accountable to do all the things we said we were going to do and we're very proud to do it," Staffieri said.In an attempt to ease competition concerns raised by the original proposal, Rogers and Shaw agreed in June 2022 to sell Shaw's Freedom Mobile business to Videotron for $2.85 billion. Freedom's sale was also finalized on Monday.
“We are very pleased to be closing the acquisition of Freedom Mobile today, bringing its Canadian footprint as well as the expertise and experience of its employees into our fold,” said Quebecor president and CEO Pierre Karl Péladeau in a news release.
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Rogers finalizes $26-billion merger with Shaw after receiving government approvalRogers CEO Tony Staffieri calls it a momentous day for the company’s customers and says they will benefit from the latest services and network technology. More oligarchs for Canada. A big loss to consumers. What else is new here? I guess we all just forgot about how Canada collapsed when the Roger's monopoly on our IT backbone went down, huh? Canada loves it's monopolies. I don't know why everyone says we're capitalist. No business that isn't already established will thrive here.
Source: TorontoStar - 🏆 60. / 55 Read more »
Rogers finalizes $26-billion merger with Shaw after receiving government approvalRogers Communications Inc. has closed its $26-billion purchase of Shaw Communications Inc. after receiving final approval from Ottawa last week. Can we have local angle instead of qc/ont centric one from CP? Like how does this affect BC shaw customers? Are there promises to lower cable/Internet costs, can Shaw customers finally get a la carte like bell back east has ( was great, could change channels, not stuck w/tiers)
Source: CHEK_News - 🏆 59. / 55 Read more »
Rogers finalizes $26-billion merger with Shaw after receiving government approvalRogers Communications Inc. has closed its $26-billion purchase of Shaw Communications Inc. after receiving final approval from Ottawa last week, bringing to an end two years of uncertainty as regulators scrutinized the deal. Justin and Jag supporters getting what they voted for. So much for competitiveness in the Canadian cell phone industry and lower prices… Hopefully the next generation will finally SCRAP the relic that IS the CRTC! Red Tape Cut. How is this going to open up competition and help all Canadian’s get better📱rates etc? Canada should follow what Australia and Ireland are doing, no? At the very least, the sharing of cell towers should be included in this deal, so any new companies can compete. cdnpoli
Source: CTVNews - 🏆 1. / 99 Read more »
Rogers finalizes $26-billion merger with Shaw after receiving government approvalRogers Communications Inc. has closed its $26\u002Dbillion purchase of Shaw Communications Inc. after receiving final approval from Ottawa last week It's all a mafia conglomerate. Clients will be paying the proverbial piper, as always 😅 Instead of more competition we have less! Stupid laws they passed are useless. Take a look at prices in Europe 🤦🤦🤦🤦🤡
Source: TheTorontoSun - 🏆 23. / 68 Read more »