Rogers, Shaw Freedom Mobile

2022 - 6 - 18

Rogers Communications says it will sell Freedom Mobile to ... (CBC.ca)

Quebecor Inc. has agreed with Rogers Communications Inc. and Shaw Communications Inc. to buy Freedom Mobile for an enterprise value of $2.85 billion, ...

"Rogers is afraid to compete. Quebecor beat out several other parties to reach the deal. It also argued the proposed sale of Shaw's Freedom Mobile is "not an effective remedy," because it won't replace the growing competition Shaw Mobile would deliver in Alberta and British Columbia and would make Freedom "a subsequently weaker competitor" than it would have been. "The parties strongly believe the agreement effectively addresses the concerns ... regarding viable and sustainable wireless competition in Canada," the companies said in the statement, referring to the reservations of the competition watchdog and the industry minister. Toronto-based Rogers made a $26-billion bid for Calgary-based Shaw and also offered to sell Shaw's Freedom mobile unit to allay competition concerns as part of the deal. Rogers Communications Inc. will sell Freedom Mobile Inc. to Quebecor Inc. for $2.85 billion in a deal it hopes will appease federal regulators opposed to its proposed takeover of Shaw Communications Inc.

Scrutiny of Shaw takeover heightened as Rogers hails $2.85B sale ... (Calgary Herald)

The deal will see Quebecor buy all of Freedom's wireless and internet customers, as well as infrastructure, spectrum and retail locations.

“Rogers is afraid to compete,” Lacavera said. Article content Article content Article content Article content Article content

Quebecor to buy Freedom Mobile for $2.85 billion, expanding ... (CTV Montreal)

The Competition Bureau has strengthened its opposition to Rogers Communications Inc.'s proposed $26 billion takeover of Shaw Communications in new ...

In the long term, Shaw and Rogers want to provide Quebecor with data and roaming services. "This is a pivotal moment for the Canadian wireless market. The town of Indian Head has shown its commitment to be a part of reconciliation by raising the Treaty Four and Metis Nation flags in front of its town office. Hydro Ottawa said a loss of supply from the provincial grid was to blame for a power outage in Ottawa's west end on Saturday afternoon. Calgary police have arrested a man in connection to the death of a woman found lifeless inside a Castleridge home on Thursday. A group of cyclists are calling on the city to amend a proposed intersection redesign south of the river valley. A woman has died after she was found with severe burns in a residence in Scarborough on Friday, and a man has been arrested in connection with the incident. Calgary crews are in the process of removing a temporary berm built on Memorial Drive with the hope of opening the entire area to regular traffic by Monday. In Ottawa, the average wait time to see a doctor for a first assessment in the emergency room was between 1.8 hours and 3.4 hours in April. A critically ill child known as 'Tiny Tim' successfully made the journey to Canada with his parents, landing in Toronto Friday night after a year of effort to bring the family to Canada. As the summer approaches and COVID-19 health measures continue to loosen, experts say the rise of subvariants of Omicron could lead to a spike in cases in Canada. "Under the terms of the agreement, Quebecor has agreed to purchase Freedom, on a cash basis, on an unleveraged basis, for an enterprise value of $2.85 billion," the release stated.

Rogers and Shaw agree to sell Freedom Mobile to Quebecor | IT ... (IT World Canada)

This is a value-added transaction for all consumers and the Canadian economy. After fifteen years of growth in the Quebec wireless market, we have demonstrated ...

“This is a turning point for the Canadian wireless market,” said Pierre Karl Péladeau, president and chief executive officer of Quebecor, in a statement. This is a value-added transaction for all consumers and the Canadian economy. The sale includes all of Freedom Mobile branded wireless and Internet customers, its infrastructure, spectrum, and retail locations.

Rogers strikes $2.85-billion deal to sell Freedom Mobile to Quebecor (CP24 Toronto's Breaking News)

Rogers Communications Inc. will sell Freedom Mobile Inc. to Quebecor Inc. for $2.85 billion in a deal it hopes will appease federal regulators opposed to ...

“Rogers is afraid to compete,” Lacavera said. It also argued the proposed sales of Shaw's Freedom is “not an effective remedy” because it won't replace the growing competition Shaw Mobile would deliver in Alberta and British Columbia and would make Freedom “a subsequently weaker competitor” than it would have been. A woman walks past a Freedom Mobile store in Toronto, Thursday, Nov. 24, 2016. Rogers Communications Inc. will sell Freedom Mobile Inc. to Quebecor Inc. for $2.85 billion in a deal it hopes will appease federal regulators opposed to its proposed takeover of Shaw Communications Inc. The Competition Bureau expanded its opposition to Rogers' proposed takeover of Shaw in new submissions made to the Competition Tribunal on Friday. Rogers Communications Inc. says it will sell Freedom Mobile Inc. to Quebecor Inc. for $2.85 billion in a deal it hopes will appease the concerns of federal regulators about its proposed takeover of Shaw Communications. THE CANADIAN PRESS/Nathan Denette

Rogers and Shaw to sell Freedom Mobile wireless business to ... (WellandTribune.ca)

Companies say they hope the agreement will pave the way for Ottawa to approve the larger $26-billion merger deal.

Rogers and Shaw said in their own court filings earlier this month that the bureau failed to account for “significant efficiencies” the transaction would deliver. Rogers and Shaw first announced the deal in March, 2021. In its own response on Friday afternoon before the Quebecor deal was announced, the Competition Bureau said the efficiencies claimed by the companies are “speculative, unproven and unlikely to be achieved in whole or in part or are grossly exaggerated” and not enough to save the merger. But the bureau has said the loss of Shaw’s wireless business would lead to a substantial reduction in competition in the cellular market. He said Quebecor would bring its experience in the Quebec market and its “financial strength” to bear for the benefit of consumers. The companies said in a statement late Friday evening that the agreement to sell Shaw’s wireless business should address concerns about competition in the cellular market raised by Canada’s Competition Bureau as well as the federal government and pave the way for their larger $26-billion merger deal to close.

Rogers stands to gain nearly half a million clients as part of deal to ... (The Globe and Mail)

Buying Freedom Mobile from Rogers would transform Montreal-based Quebecor into a national wireless platform.

Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening. Quebecor and Rogers have long been partners on telecom networks, but the relationship has sometimes been rocky. Mr. Staffieri told analysts that Quebecor did not bid on Shaw Mobile because it was concerned those clients would switch cellphone providers if threatened with the loss of their other telecom services as a result of a change in the division’s ownership. The Globe is not naming the sources because they were not permitted to speak for Quebecor. Shaw has called those concerns “wholly misplaced,” arguing that Freedom’s success has not depended on leveraging Shaw’s cable network. In weekend briefings, Rogers chief executive Tony Staffieri told analysts that his company plans to retain 450,000 Shaw Mobile subscribers in Alberta and B.C., because Quebecor and other potential buyers of Freedom refused to bid on the division. In October, Quebecor sued Rogers for $850-million, alleging the Toronto-based company had breached their network-sharing contract. Shaw Mobile is sold in bundles with cable and internet services in Western Canada – regions Quebecor doesn’t serve – while Freedom is a stand-alone business. In their report, the CIBC analysts offer a similar assessment. He added that the Freedom deal would fulfill Industry Minister François-Philippe Champagne’s objective of maintaining a strong fourth wireless carrier. Rogers would provide Quebecor with roaming and backhaul services at market rates. Shaw launched the bundle in 2020, in an attempt to retain its cable and internet customers by offering them steeply discounted wireless services.