Rogers extends Shaw deal deadline to March 31

February 17, 2023 11:14 PM AEDT | By Reuters
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(Reuters) -Rogers Communications said on Friday it will again extend the deadline for its takeover of Shaw Communications to March 31, as the wireless carriers await approval from Canadian industry minister Francois-Philippe Champagne.

The companies had set a Feb. 17 deadline last month.

The Rogers deal for Shaw, which would create Canada's No. 2 telecoms company, had triggered concerns of lessening competition in a country where wireless bills are already among the highest in the world.

To alleviate the antitrust issues, Rogers-Shaw agreed to sell Freedom Mobile, a wireless business owned by Shaw, to Quebecor. The C$2.85 billion ($2.11 billion) sale is also now expected to close by March 31, the companies said.

Rogers announced the C$20 billion bid for Shaw in March 2021.

($1 = 1.3534 Canadian dollars)

(Reporting by Eva Mathews in Bengaluru; Editing by Anil D'Silva and Devika Syamnath)


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