Rogers, Shaw, and Quebecor’s Videotron announced today that they have agreed to extend the closing date of their transactions to February 17.
The expected closing date of Rogers acquiring Shaw and Videotron acquiring Shaw’s Freedom Mobile assets was January 31, which was set before the Competition Bureau appealed a decision of the Competition Tribunal that denied its petition to block the deal. The Federal Court of Appeal upheld the tribunal’s decision last week, and the bureau said it will not appeal to the Supreme Court.
The transfer of Freedom’s assets to Videotron must now be approved by Innovation Minister Francois-Philippe Champagne, who was sent a letter from some members of Parliament Friday that a decision on a deal should not be made until a “free and open” process is had for Freedom. Champagne has said he will make a decision in “due course.”
Last week, the MPs heard from all players involved in the deal as well as opposition to it.
