Canada slaps curbs on Rogers’ treatment supply to win C$20 billion Shaw buy By Reuters

By Divya Rajagopal and Dan Whitcomb

(Reuters) -Canada on Tuesday imposed situations on Rogers (NYSE:) Communications’ proposed treatment to beat competitors bureau considerations about Rogers’ deliberate C$20 billion ($14.7 billion) buy of rival Shaw Communications (NYSE:).

Rogers has supplied to promote Shaw’s Freedom Cell unit to Quebecor Inc’s Videotron to allay the antitrust bureau’s considerations over lowered competitors within the Canadian market following the Shaw deal.

Canadian Trade Minister François-Philippe Champagne instructed a media convention on Tuesday that Videotron can be required to carry the Freedom Cell unit for at the least 10 years.

“Second, I’d anticipate to see costs for wi-fi service in Ontario and Western Canada corresponding to what Videotron is presently providing in Quebec, that are right now on common 20% decrease than in the remainder of Canada,” he added.

Champagne additionally stated the federal government has formally rejected the wholesale switch of wi-fi spectrum license from Shaw to Rogers below the unique deal.

Champagne’s announcement at a information convention got here days earlier than the businesses go into mediation on the Competitors Tribunal relating to the takeover. Canada Competitors Bureau has stated the sale of Freedom Cell to Videotron will not be enough to beat its considerations about market focus. However Champagne has the ultimate say on the deal.

“Given the continuing proceedings, we’ll decline to remark at the moment,” Rogers stated.

Quebecor was not obtainable for a direct remark.

Rogers first introduced the acquisition of Shaw in 2021, however Canada’s competitors bureau blocked the deal saying it will reduce competitors in a market the place wi-fi payments are among the many highest on this planet.

“Canadians deserve world-class networks, and entry to wi-fi companies at inexpensive and aggressive costs. I’m resolved to realize these targets, full cease,” Champagne added.

($1 = 1.3619 Canadian {dollars})