Rogers Communications Inc. and Canada's competition watchdog have failed to resolve their differences over the telecom giant's $26-billion proposed takeover of Shaw Communications Inc. following a mediation period and weeks of talks.
The Competition Bureau has been trying to block the deal, arguing that the transaction would lead to worse service and higher prices for consumers. Thursday evening's outcome comes just a few days after Industry Minister François-Philippe Champagne put new conditions on the deal, specifically targeting the sale of Shaw-owned wireless carrier Freedom Mobile to Quebecor's Videotron, a key component in the proposed transaction.
He also said he would"expect to see" wireless prices in Ontario and Western Canada lowered by about 20 per cent, putting them in line with Videotron's current Quebec offerings.
This deal is bad for consumers and competition.
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