TORONTO : Canada's move to clear Rogers Communications Inc's C$20 billion ($15 billion) bid for Shaw Communications Inc after two years should have been a balm to markets. Instead, dealmakers are worried about potential government intervention in mergers involving other sensitive sectors.On Friday, Minist
TORONTO : Canada's move to clear Rogers Communications Inc's C$20 billion bid for Shaw Communications Inc after two years should have been a balm to markets. Instead, dealmakers are worried about potential government intervention in mergers involving other sensitive sectors.
"The minister did not have any authority to approve or deny this merger except with respect to the spectrum licenses," Michael Osborne, a competition lawyer at law firm Cozen O'Connor, told Reuters. The minister’s office did not offer an immediate comment in response to a Reuters query on political interference in M&A.Consumer advocates have long derided the lack of competition in Canada from industries ranging from banking to telecoms. Rogers' deal for Shaw was politically sensitive due to the sky-high wireless bills Canadians pay, which are among the highest in the world.
The antitrust bureau said in a statement on Friday that a competitive telecommunications sector is"vitally important" for Canadians, and the bureau will continue to do everything in its power to promote competition in the sector.
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