Rogers, Shaw extend deadline to close $20B deal until year-end
BNN Bloomberg
Rogers and Shaw have extended the timeline to close their $20-billion takeover arrangement.
The two companies announced Wednesday morning that the outside date for getting the deal done has been extended to Dec. 31 of this year. The deadline was previously set for July 31.
The telecom and cable giants have been trying since March of last year to secure all the necessary approvals to proceed with their transaction. However, the Competition Bureau is seeking to block the deal, which also still requires the green light from Innovation, Science, and Industry Minister François-Philippe Champagne, who has said he won’t allow the wholesale transfer of Shaw’s wireless assets to Rogers.
In their update Wednesday morning, Rogers and Shaw said they’re still negotiating final details for the sale of Shaw’s Freedom Mobile wireless business to Quebecor Inc.
