Aug 12, 2022
By Jane Brown
A deal has been done in Canada’s telecom industry to further facilitate the merger of Rogers Communications Inc. and Shaw Communications Inc.
A statement released Friday morning says Rogers and Shaw have signed a definitive agreement with Quebecor Inc. that will see the Montreal-based telecom company acquire wireless carrier Freedom Mobile Inc.
Rogers will sell Shaw-owned Freedom to Videotron Ltd., which is owned by Quebecor, for $2.85 billion in a deal it hopes will appease the concerns of federal regulators about its proposed takeover of Shaw.
The parties say the combination of Freedom and Videotron will create a strong fourth national carrier and address the concerns raised by the Commissioner of Competition and the Minister of Innovation, Science and Industry regarding the Rogers-Shaw transaction.
This agreement comes as Rogers continues to deal with the fallout from the July 8th service outage that impacted some 12 million Canadians.