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Fed’s Refusal to Authorize Shaw / Rogers Deal - “A Step in the Right Direction”?

Stockhouse Editorial
1 Comment| March 4, 2022

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The federal government’s readiness not to authorize the transfer of Shaw Communications Inc. (TSX-V: SJR, Forum) wireless licenses to Rogers Communications Inc. (TSX: RCI, Forum) represents “a step in the right direction.”

This comes via statement from Canadian telecommunications, entertainment, news media and culture, Quebecor Inc. (TSX: QBR , Forum), who added that this move recognizes the importance of ensuring healthy competition in Canada.

In a statement of his own this week, Quebecor’s President and Chief Executive Officer, Karl Péladeau said that as it stands, the proposed Rogers-Shaw transaction is contrary to the public interest.

“As Bell, Rogers and Telus already control 90% of Canada's wireless market, it is imperative that we create the necessary conditions for real competition in order to give consumers more choice, better prices, better services and more innovation.”

He supports the apprehension by Honourable François-Philippe Champagne, Minister of Innovation, Science, and Industry, regarding the proposed purchase of Shaw by Rogers, in a $16 billion (USD) takeover.

The statement went on to note that the pending Competition Bureau of Canada decision on the Rogers-Shaw transaction could also be an opportunity to create “the dynamics for real, sustainable competition, for the benefit of Canadians”.

What are your thoughts on the possible takeover? Do you support conglomeration in media? Let us know where you stand in the comments below.



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