Canada’s industry minister, François-Philippe Champagne, on Thursday opposed Rogers Communications Inc’s buyout bid for Shaw Communications Inc. and said it was incompatible with the government’s policies.
The federal government says it will block the wholesale transfer of wireless licences owned by Shaw Communications Inc. to Rogers Communications Inc.
Industry Minister François-Philippe Champagne says he is concerned about the $26-billion proposed takeover of Calgary-based Shaw by Toronto-based telecom giant Rogers.
He says he won’t permit the transfer of all of Shaw’s wireless business to Rogers because it threatens competition and will make cellphone bills more expensive for Canadians.
The proposed acquisition of Shaw by Rogers is currently under review by three federal regulators.
These are Innovation, Science and Economic Development Canada, as well as the Canadian Radio-television and Telecommunications Commission and the Competition Bureau.
The proposed deal was announced in 2021, and Rogers has said it is expected to close in the second quarter of this year