- 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.
For further details see:
Rogers, Shaw and Quebecor sign agreement to offload Freedom Mobile