Competition Bureau gets temporary stay of Tribunal decision on Rogers-Shaw merger | 24CA News
The Competition Bureau says a Federal Court has issued an emergency keep briefly suspending the Competition Tribunal’s dismissal of its case in opposition to Rogers Communications Inc.’s $26-billion takeover of Shaw Communications Inc.
The federal company says the suspension will stay in place till its software for a keep and an injunction is heard.
The injunction would block the deal from closing till the Bureau’s full enchantment of the choice, rendered on Thursday, is heard.
The Tribunal mentioned in its ruling that the merger was not prone to end in greater costs for wi-fi clients and that it was glad a plan to promote Shaw’s Freedom Mobile to Quebecor Inc.’s Videotron was sufficient to make sure competitors is not considerably lowered.
The Bureau had sought to dam the merger and in its enchantment argues that the Tribunal acted outdoors of its jurisdiction in a “rush to judgment.”
The federal Competition Tribunal has cleared the best way for Rogers’ merger with Shaw Communications, stipulating that the acquisition can solely proceed if Shaw sells its wi-fi division Freedom Mobile to Quebec-based Videotron.
If the Tribunal’s choice stands, the merger will solely require the approval of federal Industry Minister Francois-Philippe Champagne to go forward. Champagne mentioned Saturday that he’ll wait till there may be “clarity” within the ongoing authorized course of earlier than issuing a choice.
The deal was initially scheduled to shut by the tip of 2022, with a attainable extension to Jan. 31.
