- Rogers Communications (RCI.A), Shaw Communications (SJR.A) and Quebecor (QBR.A) issued a statement on the decision by the Federal Court of Appeal
- The transaction now only requires the approval of federal Industry Minister Francois-Philippe Champagne
- The Rogers combination with Shaw has already been approved by Shaw shareholders and the Court of King’s Bench of Alberta
- The transfer of Shaw’s broadcasting licences to Rogers has been approved by the CRTC
- Rogers is a Canadian technology and media company that provides communications services and entertainment to consumers and businesses
- Rogers Communications Inc. Class A shares opened trading at C$67.12
Rogers Communications (RCI.A), Shaw Communications (SJR.A) and Quebecor (QBR.A) issued a statement on the decision by the Federal Court of Appeal.
“We welcome this clear, unequivocal, and unanimous decision by the Federal Court of Appeal. We continue to work with Innovation, Science and Economic Development Canada to secure the final approval needed to close the pro-competitive transactions and create a stronger fourth wireless carrier in Canada and a more formidable wireline competitor.”
The Federal Court of Appeal dismissed the Commissioner of Competition’s appeal of the Competition Tribunal’s decision regarding the merger. The Tribunal rejected the Commissioner’s challenge of the proposed acquisition of Freedom Mobile by Videotron Ltd., a wholly owned subsidiary of Quebecor Inc., and the combination of Rogers and Shaw.
François-Philippe Champagne, Minister of Innovation, Science and Industry, must approve spectrum license transfers from Shaw to Videotron – in connection with the proposed acquisition of Freedom Mobile by Videotron – before the combination of Rogers and Shaw can proceed.
In addition to the decisions of the Federal Court of Appeal and the Competition Tribunal, the transaction has already been approved by Shaw shareholders and the Court of King’s Bench of Alberta, and the transfer of Shaw’s broadcasting licences to Rogers has been approved by the Canadian Radio-television and Telecommunications Commission.
Rogers is a Canadian technology and media company that provides communications services and entertainment to consumers and businesses.
Shaw is a leading Canadian connectivity company.
Quebecor is a leader in telecommunications, entertainment, news media and culture.
Quebecor Inc.- Class A shares opened trading at C$31.48.
Shaw Communications – Class A shares opened trading at C$40.00.
Rogers Communications Inc. Class A shares opened trading at C$67.12.
