The companies involved in the Rogers Communications Inc. deal to buy Shaw Communications have extended the deadline to complete the transaction until the middle of February
Companies now say they hope to finalize massive telecom transaction by Feb 17th
The companies involved in the Rogers Communications Inc. deal to buy Shaw Communications have extended the deadline to complete the transaction.
Rogers, Shaw, the Shaw Family Living Trust and Quebecor Inc. say they have extended the deadline to Feb. 17 from Tuesday.
If approved, the deal will see Rogers acquire Shaw, while Quebecor’s Videotron subsidiary will acquire Shaw’s Freedom Mobile wireless business.
The agreement is still waiting for approval by Industry Minister Francois-Philippe Champagne who must sign off on the transfer of wireless spectrum licenses from Shaw to Videotron.
The companies say they are continuing to work with the government to secure the final approval needed to close the transactions.
The deal cleared a key hurdle last week after the Federal Court of Appeal dismissed a Competition Bureau request to overturn approval of the agreement by the Competition Tribunal.