Business
ROGERS, SHAW AND QUEBECOR ANNOUNCE AGREEMENT FOR SALE OF FREEDOM MOBILE
ROGERS, SHAW AND QUEBECOR ANNOUNCE AGREEMENT FOR SALE OF FREEDOM MOBILE Canada ...
About this update from Quebecor Inc. Class A
[{"type":"text","content":"\n \n \n \n ROGERS, SHAW AND QUEBECOR ANNOUNCE AGREEMENT FOR SALE OF FREEDOM MOBILE\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n The proposed divestiture of Freedom Mobile to Quebecor will ensure the presence and viability of a strong fourth wireless carrier in\n \n Canada\n \n \n \n \n \n Quebecor brings an undeniable operational and competitive track record, as well as significant financial resources\n \n \n \n \n \n TORONTO\n \n ,\n \n CALGARY, AB\n \n and\n \n MONTREAL\n \n \n ,\n \n \n June 17, 2022\n \n \n /CNW Telbec/ - Rogers Communications Inc. (\"Rogers\"), Shaw Communications Inc. (\"Shaw\") and Quebecor Inc. (\"Quebecor\") today announced  an agreement (the \"Divestiture Agreement\") for the sale of Freedom Mobile Inc. (\"Freedom\") to Quebecor, subject to regulatory approval (the \"Freedom Transaction\"). The Freedom Transaction will ensure the presence of a strong and sustainable fourth wireless carrier across\n \n Canada\n \n . The parties strongly believe the agreement effectively addresses the concerns raised by the Commissioner of Competition and the Minister of Innovation, Science and Industry regarding viable and sustainable wireless competition in\n \n Canada\n \n .\n \n \n Under the terms of the Divestiture Agreement, Quebecor has agreed to buy Freedom on a cash-free, debt-free basis at an enterprise value of\n \n C$2.85 billion\n \n , expanding Quebecor's wireless operations nationally. The Divestiture Agreement provides for the sale of all of Freedom branded wireless and Internet customers as well as all of Freedom's infrastructure, spectrum and retail locations. It also includes a long-term undertaking by Shaw and Rogers to provide Quebecor transport services (including backhaul and backbone) and roaming services. The parties will work expeditiously and in good faith to finalize definitive documentation.\n \n \n As Freedom's new owner, Quebecor will bring a strong operational track record, a history of competing vigorously and successfully in telecommunications ...