Globalive ties up with Telus in push to buy Freedom Mobile
BNN Bloomberg
Globalive says it has struck an agreement with Telus to share mobile networks and spectrum -- a move intended to boost Globalive’s effort to buy wireless assets from Rogers
The arrangement comes as Rogers tries to acquire rival Shaw Communications Inc. for about $20 billion (US$15.6 billion) in one of Canada’s biggest mergers ever. The deal has antitrust problems, and Rogers has been negotiating with potential buyers of Shaw’s Freedom Mobile division in a bid to resolve them.
Globalive wants to buy Freedom Mobile, and the contract with Telus is designed to assure regulators and government officials that it will be able to offer a quality network that could compete with Canada’s larger wireless firms.
Under the deal, Telus and Freedom would share networks and spectrum in the three Canadian provinces -- Ontario, Alberta and British Columbia -- where Freedom currently operates, if Globalive is successful in acquiring it. It could be expanded to other regions of Canada over time, Globalive Chairman Anthony Lacavera said in an interview.
The federal government announced intentions to raise the inclusion rate on capital gains taxes for corporations and individuals earning beyond a certain threshold, which will impact wealthy individuals who are benefiting from tax advantages not available to middle class Canadians, according to the Budget 2024.