Rogers Communications Inc\u0027s $26\u002Dbillion takeover of Shaw Communications Inc. cleared the last regulatory hurdle Friday.
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.In response, Videotron said it would accept the conditions, agreeing to incorporate them in a revised deal.
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.Article content Champagne vowed to “be like a hawk on behalf of Canadians” to ensure the companies adhere to the conditions. Instead, the court sided with the tribunal’s view that “there was no substantial lessening of competition” at risk by approving the deal.
That included a requirement for Rogers to contribute $27.2 million to various initiatives and funds, five times what the company had originally proposed. As part of the agreement, Rogers will acquire 16 cable services based in Western Canada, a national satellite television service and other broadcast and television services.
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