Minister of Innovation, Science and Industry François-Philippe Champagne has approved the acquisition of Shaw by Rogers.
There will also be a transfer of the wireless licenses from Freedom Mobile, owned by Shaw, to Quebecor.
The minister’s much-anticipated decision was the final hurdle in the $26 billion acquisition, which began two years ago when the purchase deal was announced in March 2021.
A large-scale purchase of Shaw by Rogers raised competition concerns, and the original deal was revised to include the sale of Freedom Mobile to Videotron.
The Canadian Radio-television and Telecommunications Commission (CRTC) and the Competition Bureau have each given the green light to the agreement.
The companies’ shareholders have already approved the deal.
The deal was originally expected to close by June 2022. Rogers and Shaw have pushed that date back several times, most recently to March 31.
More details to come.
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