- Rogers Communications (RCI.A) and Shaw Communications (SJR.B) will not proceed with their merger until a settlement is reached with the Commissioner or the Competition Tribunal rules on the matter
- Rogers and Shaw are in the process of fully divesting Shaw’s wireless business as part of the proposed merger
- Both Rogers and Shaw believe the transaction is in the best interests of Canadian consumers, businesses and the Canadian economy
- Benefits include the investment of $2.5 billion to build 5G networks across Western Canada and the creation of up to 3,000 net new jobs in Western Canada
- Shaw Communications is one of the biggest providers of Internet, television, and landline telephone services in western Canada and northern Ontario
- Rogers is a leading Canadian technology and media company that provides communications services and entertainment to consumers and businesses
- Shaw Communications Inc. (SJR.B) opened trading at C$36.08
- Rogers Communications Inc. (RCI.A) opened trading at C$65.99
Rogers Communications (RCI.A) and Shaw Communications (SJR.B) have announced an update on their proposed merger.
Rogers and Shaw will not proceed with the transaction until a settlement is reached with the commissioner of competition, Matthew Boswellor or until the Competition Tribunal has ruled on the transaction.
Rogers and Shaw are in the process of fully divesting Shaw’s wireless business as part of the proposed merger. Today’s agreement with the commissioner allows the parties to focus on addressing concerns to reach a settlement.
Rogers and Shaw believe the transaction is in the best interests of Canadian consumers, businesses and the Canadian economy.
If a Tribunal hearing is required to address the competition bureau application to prevent the merger, Rogers and Shaw intend to oppose it. An expedited schedule of that application is expected to be announced soon.
Benefits of the proposed transaction include:
- Investing $2.5 billion to build 5G networks across Western Canada over the next five years;
- Establishing a new $1 billion Rogers Rural and Indigenous Connectivity Fund dedicated to connecting rural, remote, and Indigenous communities across Western Canada;
- An additional $3 billion to support further network, services, and technology investments;
- Creating up to 3,000 net new jobs in Western Canada; and
- Extending Rogers Connected for Success program across Western Canada to bring the first of its kind low-cost broadband program nationally to help seniors and low-income Canadians in every community where the combined company offers Internet services.
The shareholders have approved the transaction of Shaw and the Court of Queen’s Bench of Alberta. The Canadian Radio-television and Telecommunications Commission (CRTC) has approved Rogers’s acquisition of Shaw’s broadcasting services, subject to conditions designed to ensure Canadians benefit from the transaction.
The merger remains subject to the approval of the Ministry of Innovation, Science and Economic Development and other customary closing conditions.
Shaw Communications is one of the biggest Internet, television, and landline telephone services providers in British Columbia, Alberta, Saskatchewan, Manitoba, and northern Ontario.
Rogers is a leading Canadian technology and media company that provides communications services and entertainment to consumers and businesses.
Shaw Communications Inc. (SJR.B) opened trading at C$36.08.
Rogers Communications Inc. (RCI.A) opened trading at C$65.99.