Companies extend deadline to close Rogers-Shaw deal to Feb. 17
A woman holds two cellphones in this photo illustration, Monday March 29, 2021 in Chelsea, Quebec. THE CANADIAN PRESS/Adrian Wyld
The Canadian Press
Published Monday, January 30, 2023 8:39AM EST
TORONTO - The companies involved in the Rogers Communications Inc. deal to buy Shaw Communications have extended the deadline to complete the transaction.
Rogers, Shaw, the Shaw Family Living Trust and Quebecor Inc. say they have extended the deadline to Feb. 17 from Tuesday.
If approved, the deal will see Rogers acquire Shaw, while Quebecor's Videotron subsidiary will acquire Shaw's Freedom Mobile wireless business.
The agreement is still waiting for approval by Industry Minister Francois-Philippe Champagne who must sign off on the transfer of wireless spectrum licenses from Shaw to Videotron.
The companies say they are continuing to work with the government to secure the final approval needed to close the transactions.
The deal cleared a key hurdle last week after the Federal Court of Appeal dismissed a Competition Bureau request to overturn approval of the agreement by the Competition Tribunal.
This report by The Canadian Press was first published Jan. 30, 2023.
Companies in this story: (TSX:RCI.B, TSX:SJR.B, TSX:QBR.B)