TORONTO - Rogers 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.
Industry Minister Francois-Philippe Champagne gave the green light to the takeover on Friday by agreeing to the transfer of Shaw-owned Freedom Mobile’s wireless licences to Quebecor Inc.’s Videotron, the final regulatory step allowing the main deal to go ahead. It 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 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 press release.
As promised, I cancelled my Shaw satellite service today
Can Canada 🇨🇦 have $5/day cell phone roaming like Australia 🇦🇺 now?
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.
More oligarchs for Canada. A big loss to consumers. What else is new here?
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BNNBloomberg - 🏆 83. / 50 Read more »