Business
ROGERS, SHAW AND QUEBECOR TO CLOSE PRO-COMPETITIVE TRANSACTIONS
ROGERS, SHAW AND QUEBECOR TO CLOSE PRO-COMPETITIVE TRANSACTIONS Canada NewsWire ...
About this update from Quebecor Inc. Class A
[{"type":"text","content":"\n \n \n \n ROGERS, SHAW AND QUEBECOR TO CLOSE PRO-COMPETITIVE TRANSACTIONS\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 Companies Welcome Approval by Minister of Innovation, Science and Industry for the Transfer of Shaw's Spectrum Licenses to Videotron\n \n \n \n \n Extend outside date of closing the transactions to\n \n April 7, 2023\n \n \n \n \n \n \n TORONTO\n \n ,\n \n CALGARY\n \n and\n \n MONTREAL\n \n \n ,\n \n \n March 31, 2023\n \n \n /CNW/ - After receiving federal government approval, Rogers Communications Inc., Shaw Communications Inc., and Quebecor Inc. announced today that they plan to close the pro-competitive transactions expeditiously.\n \n \n The three companies, along with the Shaw Family Living Trust, have agreed to extend the outside date of the acquisition of Freedom Mobile by Videotron Ltd., a wholly-owned subsidiary of Quebecor (the \"Freedom Transaction\") and the closing of the merger of Rogers and Shaw (the \"Rogers-Shaw Merger\") to\n \n April 7\n \n , 2023 and expect the transactions to close by that date.\n \n \n The announcement follows approval of the transfer of Shaw's wireless spectrum licences to Videotron by the Minister of Innovation, Science and Industry. This was the final regulatory approval required to enable the Freedom Transaction and the Rogers-Shaw Merger (the \"Transactions\").\n \n \n The Transactions have now received all required shareholder and regulatory approvals and remain subject to customary closing conditions.\n \n \n \n Transactions Update:\n \n \n On\n \n January 24, 2023\n \n , the Federal Court of Appeal dismissed the appeal by the Commissioner of Competition (the \"Commissioner\") of the\n \n December 31, 2022\n \n , decision of the Competition Tribunal. The Tribunal had rejected the Commissioner's challenge of the Freedom Transaction and the subsequent Rogers-Shaw Merger.\n \n \n In addition to the decisions of the Federal Court of Appeal and the Competition Tribunal, the Rogers-Shaw Merger has already b...