TORONTO – Rogers, Shaw and Quebecor have once again agreed Friday to delay the date of their respective transactions, as the previous deadline has come and after the innovation minister said this week he isn’t close to making a decision on the transfers.
The outside closing date has been pushed back several times for the deals involving the transfer of Freedom to Videotron and then Shaw to Rogers. It was previously January 31, then it was pushed to February 17, and now the parties are hoping that the minister makes a decision by March 31, which is the date they agreed to initiate the transaction.
“All parties remain committed to the pro-competitive transactions, and continue to work with Innovation, Science and Economic Development Canada (ISED) to obtain approval of the transfer of spectrum licenses from Shaw to Videotron – in connection with the proposed acquisition of Freedom Mobile by Videotron,” a press release said again.
Innovation Minister Francois-Philippe Champagne told the House industry committee this week that he is not near a decision on the matter, reassuring members of Parliament that there will be enforceable conditions on Videotron if he agrees to allow it to gobble up Freedom.
Rogers executives have said that the company has raised enough capital to stomach delays all the way up to at least the end of the year.
