Rogers’ deadline to complete its $26 billion acquisition of Shaw has been extended again.
Rogers, Shaw and Quebecor announced in a joint statement this morning that the deadline for the deal would be extended from today to March 31.
The move came after Industry Minister Francois-Philippe Champagne said during an industry committee meeting on Monday that he was no closer to finalizing anything.
Champagne is to approve the transfer of spectrum licenses from Shaw to Videotron with the aim of addressing competition concerns.
Champagne has previously stated that they require guarantees that Videotron will offer low-cost services outside Quebec over a 10-year period and that Shaw will retain its license for a specified period after the merger is approved. But he also said that as a regulator, he is not bound by any deadline.
The deal has already received the green light from the CRTC, the Competition Tribunal and the Federal Court of Appeal after several unsuccessful attempts by the Competition Bureau to block the merger.
