(Toronto) Canadian communications giants Rogers and Shaw, along with the Shaw Family Living Trust, announced Wednesday that they have agreed to extend the deadline for the proposed merger of Rogers and Shaw to December 31.
Posted at 7:25 a.m.
In a press release, the companies say they want to demonstrate their willingness to carry out this alliance.
Rogers and Shaw meanwhile continue the process of selling Freedom Mobile to Quebecor. Negotiation of the final transaction documents is progressing, according to Rogers and Shaw, adding that the parties will provide an update in due course.
Rogers has announced it will sell Freedom to Quebecor for $2.85 billion, as it seeks the green light from authorities for its takeover of Shaw for $26 billion. The deal would see Quebecor buy all of Freedom’s wireless and internet customers, as well as its infrastructure, spectrum and outlets.
The Rogers-Shaw transaction signed in March 2021 has already received shareholder and Canadian Radio-television and Telecommunications Commission (CRTC) approval, but remains subject to review by the Competition Bureau and the Department of Innovation , Science and Economic Development.
Companies in this story: Rogers Communications (TSX: RCI.B), Shaw Communications (TSX: SJR.B), Quebecor (TSX: QBR.B)