Competition Bureau gets stay in Shaw-Rogers case
The transaction cost is $26 billion.
The Competition Bureau says the Federal Court of Appeal has granted it an emergency stay that temporarily suspends the Competition Tribunal's dismissal of its complaint against the takeover of Shaw Communications by Rogers Communications.
The federal agency says the stay will remain in effect until its request for a stay and injunction can be heard.< /p>
The injunction would prevent completion of the two companies' proposed deal, at a cost of $26 billion, until a full appeal of the Court of Justice's ruling on Thursday. competition be heard.
In its decision, the Competition Tribunal determined that the merger of Shaw and Rogers is unlikely to result in higher prices for Canadian customers .
He also said he was convinced that the sale of Freedom Mobile, owned by Shaw, to Videotron was sufficient to ensure that competition was not substantially lessened.
Disagreeing with this interpretation, the Competition Bureau appealed the decision, arguing that the Tribunal acted outside of its jurisdiction.
If the Tribunal's decision is upheld after the appeal process, only the approval of the Federal Minister of Industry will be missing. rie, François-Philippe Champagne, to move forward with the merger.
Mr. Champagne said on Saturday that he will not issue a decision until the ongoing legal battle has been clarified.