SJR - Rogers Shaw and Quebecor sign agreement to offload Freedom Mobile

• Rogers Communications ( NYSE: RCI ), Shaw Communications ( NYSE: SJR ) and Quebecor entered into a definitive agreement for the sale of Freedom Mobile to Videotron, subsidiary of Quebecor.
• The parties strongly believe the Freedom Transaction provides the best opportunity to create a strong fourth national wireless services provider and addresses the concerns raised by the Commissioner of Competition and the Minister of Innovation, Science and Industry regarding the Rogers-Shaw Transaction.
• With this agreement, the new combined business of Videotron and Freedom will be well-positioned to launch a strong, competitive national 5G offering.
• This definitive agreement is substantially consistent with the terms earlier announced on June 17, 2022.
• Rogers' financial guidance for 2022 remains unchanged.
• Shaw shares trading 3.9% higher premarket.

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