Canada approves C$20 billion Rogers-Shaw deal, shares up

Quebecor

31/03/2023 13:53

** U.S.-listed shares of Canadian telecom company Shaw
Communications Inc  SJR.N  up 3.1% at $29.82 premarket
    ** Canada grants the final approval for Rogers
Communications Inc's  RCIb.TO  C$20 bln ($15 bln) buyout of Shaw
    ** U.S.-listed shares of Rogers  RCI.N  also up 2.8%
premarket
    ** Francois-Philippe Champagne, Minister of Innovation,
Science and Industry, says that he has approved the transfer of
wireless licenses held by Shaw's Freedom Mobile unit to Quebecor
Inc  QBRb.TO  under some conditions
    ** Freedom Mobile's planned sale to Quebecor-owned Videotron
has played a vital role in addressing the antitrust concerns
over the deal
    ** As of last close, Shaw had gained 0.5% this year, while
Rogers gained ~2% YTD
    

 (Reporting by Tiyashi Datta in Bengaluru)
 ((tiyashi.datta@thomsonreuters.com))