The companies said Friday they expected to complete the transaction by April 7.
Federal Industry Minister François-Philippe Champagne approved the transfer of Shaw-owned Freedom Mobile's wireless licences to Quebecor Inc.'s Videotron, which operates in Quebec and some border regions of Ontario., paving the way for the deal to be completed.
Champagne had stipulated that he would "expect to see" Freedom’s wireless prices in Ontario and Western Canada lowered by about 20 per cent over, putting them in line with Videotron's current Quebec offerings. It must also spend $5.5 billion to expand 5G coverage and additional network services, as well as a further $1 billion to connect rural, remote and Indigenous communities.
"Make no mistake. We will be monitoring their performance under these terms and conditions and making sure that we enforce the terms of these contracts on behalf of Canadians," he said. “If Canadians do not begin to see clear and meaningful reduction in prices within a reasonable amount of time, I will have no choice but to seek further legislative and regulatory powers to drive down prices in Canada,” Champagne said.
That included a requirement for Rogers to contribute $27.2 million to various initiatives and funds, five times what the company had originally proposed.
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