Rogers-Shaw deal gets final approval

OTTAWA –

Rogers Communications Inc’s $26-billion takeover of Shaw Communications Inc. cleared the last regulatory hurdle Friday.

The federal industry minister approved the transfer of Shaw-owned Freedom Mobile’s wireless licences to Quebecor Inc., which paves the way for the deal to be completed.

This is a breaking news update. See earlier story below:

Federal Industry Minister Francois-Philippe Champagne is set to make an announcement this morning about Rogers Communications Inc.’s proposed $26-billion purchase of Shaw Communications Inc.

A senior government official, speaking on the condition they not be named in order to discuss matters not yet made public, says the minister will discuss the transfer of wireless licences at a news conference before the stock market opens.

The deal was first announced more than two years ago and has been awaiting regulatory approval since then.

A full-scale purchase of Shaw by Rogers raised competition concerns, and the original deal has been revised to include the sale of Shaw’s Freedom Mobile to Quebec-based Videotron.

The CRTC and Competition Bureau have each given the agreement the green light.

Champagne must allow the transfer of Freedom’s wireless spectrum to Videotron before Rogers can complete its sale.

Shareholders of the companies have already approved the agreement.

The deal was originally slated to close by June 2022. Rogers and Shaw have delayed that date several times, most recently to March 31.

This report by The Canadian Press was first published March 31, 2023.