SJR - Shaw pares gains as Canadian regulator says Freedom sale doesn't address antitrust concerns

Shaw Communications ( NYSE: SJR ) pared some gains after a report that a Canadian antitrust regulator says that a potential sale of Shaw's wireless business to Quebecor ( OTCPK:QBCRF ) doesn't resolve the authorities concerns about the Rogers ( NYSE: RCI ) deal.

The Canadian Competition Bureau said that the information currently shares by Videotron, Quebecor doesn't address the antitrust concerns, according to a Reuters report.

Earlier this month Shaw ( SJR ) and Rogers ( RCI ) failed to reach an agreement with Canadian antitrust officials after two days of mediation about the proposed takeover with the Commissioner of Competition.

The merger of two of Canada's top communications companies has several interested regulatory stakeholders, including Canada's Competition Bureau, Competition Tribunal, the Canadian Radio-television and Telecommunications Commission, and the minister of Innovation/Science/Industry.

Late last month, Rogers, Shaw and Quebecor ( OTCPK:QBCRF ) announced a deal to sell Shaw's Freedom Mobile unit to Quebecor for C$2.85B (about $2.3B), addressing a key regulatory concern.

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