Rogers hopes deal will appease federal regulators opposed to its proposed takeover of Shaw
by The Canadian Press
June 18, 2022
Rogers Communications Inc. will sell Freedom Mobile Inc. to Quebecor Inc. for $2.85 billion in a deal it hopes will appease federal regulators opposed to its proposed takeover of Shaw Communications Inc.
The cash-free, debt-free deal was announced late Friday and will see Quebecor buy all of Freedom’s branded wireless and internet customers, as well as its infrastructure, spectrum and retail locations.
The parties were working to reach a deal for weeks, while the Competition Bureau has been seeking to block the $26-billion Shaw merger over concerns it would substantially prevent or lessen competition in wireless services.
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