Canada's competition watchdog says it still intends to block Rogers' $26-billion proposed takeover of Shaw in the first day of a weeks-long hearing before the Competition Tribunal.
Rogers Communications Inc. is pushing back against Canada's competition watchdog in the first day of a weeks-long hearing on its $26-billion proposed takeover of Shaw Communications Inc., arguing that the deal is"pro-competitive." The price tag includes $6 billion of debt.
The regulator said separating Freedom from Shaw would make it a diminished competitor because it would remove Freedom's access to certain shared human resources and synergies the company"has enjoyed" as part of Shaw.The Competition Bureau said the sale would create a situation where Videotron is likely to be more"aligned" with Rogers and more vulnerable to anti-competitive actions by Rogers.
Rogers added that the planned sale of Freedom to Videotron would create an"invigorated" competitor in the wireless market, and rhetorically asked why Quebecor would choose to spend almost $3 billion to acquire a business that is doomed to fail. It also noted that even with the sale of Freedom, Rogers will still be acquiring customers from Shaw Mobile.
Shaw added that it has operated Freedom as a standalone company that can"easily" and"cleanly" be separated and sold. Champagne -- who as minister of innovation, science and industry must approve any spectrum licence transfer -- left the door open to a revised agreement, saying he had two major stipulations.He also said he would"expect to see" wireless prices in Ontario and Western Canada lowered by about 20 per cent, putting them in line with Videotron's current Quebec offerings.
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