Rogers Communications Inc's $26-billion takeover of Shaw Communications Inc. cleared the last regulatory hurdle Friday, more than two years after the deal was first announced.
The federal industry minister approved the transfer of Shaw-owned Freedom Mobile's wireless licences to Quebecor Inc. which paves the way for the deal to be completed.
François-Philippe Champagne says Ottawa has secured legally enforceable commitments from Rogers and Videotron, which is purchasing Freedom Mobile from Shaw as part of the deal, to bolster competition in the sector and "actually drive down prices."
The minister’s long-awaited decision is the final approval the agreement needs to clear, bringing to a close a lengthy review that began after Rogers announced its deal to buy Shaw in March 2021.
In January, the Federal Court of Appeal rejected the Competition Bureau’s bid to quash the agreement as it upheld a ruling from the Competition Tribunal in favour of the pact.
The Canadian Radio-television and Telecommunications Commission approved Rogers' acquisition of Shaw's broadcasting services in March 2022, subject to certain conditions.