This post was originally published on this site
(Reuters) -Canada on Tuesday imposed conditions on Rogers (NYSE:ROG) Communications’ proposed remedy to overcome competition bureau concerns about Rogers’ planned C$20 billion purchase of rival Shaw Communications (NYSE:SJR).
Canadian Industry Minister François-Philippe Champagne said the government has barred the wholesale transfer of wireless spectrum license but would consider a deal with conditions.
Champagne’s announcement at an afternoon news conference came days before the companies go into mediation at the Competition Tribunal regarding the takeover.
Since the companies announced the deal in 2021, they proposed the sale of Freedom Mobile, owned by Shaw, to Quebec-based Videotron, owned by Quebecor Inc .
Champagne said that he would consider that deal only if Videotron undertakes not to sell the spectrum to a third party for at least 10 years.
