SJR - Canada's antitrust regulator plans to block Rogers $16B takeover of Shaw

Canada's antitrust regulator informed Rogers Communications (NYSE:RCI) and Shaw Communications (NYSE:SJR) of its intention to oppose the $16 billion transaction. Rogers (RCI) and Shaw said they remain committed to the deal, according to a joint statement Saturday. Rogers and Shaw plan to oppose the application to prevent the deal made by the Commissioner of Competition, while continuing to "engage constructively" with the Competition Bureau. The companies have been trying to remedy the regulator's concerns through proposing the full sale of Shaw’s wireless business, Freedom Mobile. Globalive Capital offered C$3.75 billion to buy Freedom Mobile from Shaw (SJR), the Globe and Mail reported in March. The Canadian antitrust opposition comes after The Canadian Radio-television and Telecommunications Commission agreed to allow the combination in March. Shaw and Rogers agreed to extend the outside date for the transaction until July 31 and the companies will will continue to seek approval of the Transaction from the Ministry of Innovation, Science and

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Canada's antitrust regulator plans to block Rogers $16B takeover of Shaw