{"id":26082,"date":"2022-12-27T15:49:18","date_gmt":"2022-12-27T15:49:18","guid":{"rendered":"https:\/\/mailinvest.blog\/index.php\/2022\/12\/27\/heres-whats-next-in-the-rogers-and-shaw-saga\/"},"modified":"2022-12-27T15:49:18","modified_gmt":"2022-12-27T15:49:18","slug":"heres-whats-next-in-the-rogers-and-shaw-saga","status":"publish","type":"post","link":"https:\/\/mailinvest.blog\/index.php\/2022\/12\/27\/heres-whats-next-in-the-rogers-and-shaw-saga\/","title":{"rendered":"Here’s what’s next in the Rogers and Shaw saga"},"content":{"rendered":"

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Rogers\u2019 first round of approval for its $26 billion merger with Shaw received little pushback.<\/p>\n

The Canadian Radio-television and Telecommunications Commission (CRTC) held a hearing to discuss the broadcast aspects of the merger in November 2021<\/a>, providing its approval, with conditions, in March 2022.<\/a><\/p>\n

The companies also need approval from Innovation and Science and Economic Development Canada (ISED) and the Competition Bureau. That hasn\u2019t been as straightforward.<\/p>\n

The Competition Bureau has been a strong voice of opposition, stating the merger will lead to higher wireless bills<\/a>, among other issues, for Canadians. The sale of Shaw-owned Freedom Mobile to Qu\u00e9becor subsidiary Vid\u00e9otron for $2.85 billion<\/a> did little to appease concerns.<\/p>\n

Representatives from the bureau wrapped up a four-week tribunal hearing with lawyers from Rogers, Shaw, and Qu\u00e9becor earlier this month. The bureau argued the tribunal should block the deal in its entirety.<\/p>\n

Chief Justice Crampton led a three-member panel that originally hoped to share a decision<\/a> by Christmas. The tribunal will provide a 24-48 hour notice before issuing the decision.<\/p>\n

Rogers and Shaw are on a tight deadline to close the deal by the end of the year. However, they have the option to extend it to January 31st. Anything past that date will see Rogers paying millions to bondholders.<\/p>\n

But even if Crampton delivers a win for Rogers and Shaw, the companies will have weeks to get approval from ISED to make their deadline. Industry Minister Francois-Philippe Champagne laid out several conditions that Vid\u00e9otron would need to fulfill before its takeover of Freedom Mobile<\/a> is approved. Qu\u00e9becor\u2019s CEO, Pierre Karl P\u00e9ladeau, quickly indicated the company would accept the conditions.<\/p>\n

Vid\u00e9otron can only acquire Freedom if Rogers\u2019 takeover of Shaw receives full approval. It\u2019s unclear if Champagne\u2019s conditions for Vid\u00e9otron indicate how he\u2019ll rule on the more significant merger. But if they are, the merger can be expected to close sooner rather than later.<\/p>\n<\/div>\n