Rogers Communications and Shaw Communications have agreed to extend the deadline for the proposed merger of Rogers and Shaw to December 31, 2022, according to a statement.
Rogers Communications, Shaw Communications and the Shaw Family Living Trust have agreed to extend the deadline for the proposed merger of Rogers and Shaw to December 31, 2022, according to a press release.
The press release, published Wednesday, indicates that this deadline may be extended until January 31, 2023 at the option of Rogers or Shaw, provided that Rogers has the necessary financing to complete the merger.
In addition, Rogers and Shaw are continuing the process of selling Freedom Mobile to Quebecor, according to the terms set out in the previous agreement.
In early July, Rogers Communications, Shaw Communications and the Competition Bureau had participated in a mediation process regarding the $26 billion merger of the two telecommunications companies.
The watchdog competition had tried to block the deal, arguing that it would ultimately lead to fewer choices in the telecommunications market and drive up consumer bills.
Mediation, however, failed to resolve the regulatory group's objections to the merger.
Rogers and Shaw say in their statement that the merger has already been approved by Shaw shareholders, the Alberta Court of Queen's Bench and the Co Canadian Radio-television and Telecommunications Council.
With information from The Canadian Press