The Daily Chase: Awaiting Bank of Canada interest rate decision; Rogers-Shaw faces new obstacle
BNN Bloomberg
It's decision day for the Bank of Canada, and we're expecting what could be the last round of outsized rate hikes.
FEDS THROW NEW HURDLE AT ROGERS-SHAW DEAL
Rogers Communications is facing a fresh hurdle in its $20-billion pursuit of Shaw. Minister of Innovation, Science and Industry François-Philippe Champagne said Tuesday he officially rejected the transfer of wireless spectrum licenses between the two companies, throwing a wrench in the largest takeover deal in Canadian telecom history. There are some hopeful signs, however – Quebecor, which has struck a deal to buy Shaw's Freedom Mobile unit for $2.85 billion upon approval of the Shaw takeover – says it's happy to abide by Champagne's conditions, which include holding Freedom's spectrum licenses for at least ten years and pushing down wireless prices through increased competition.
FUTURES SINK AS BIG TECH EARNINGS WEIGH ON SENTIMENT
