The deadline to complete Rogers’ C$26 billion takeover of Shaw has been extended again.
Rogers, Shaw, and Québecor announced in a joint statement this morning that the closing date for the deal will be pushed from today to March.31.
This move comes after Industry Minister François-Philippe Champagne said during a Industry Committee meeting on Monday that he is not close to finalizing anything.
Champagne has to approve the transfer of spectrum licenses from Shaw to Vidéotron –the side preconditional divestiture aimed at allaying competition concerns.
Champagne has previously said he needs guarantees that Vidéotron will offer lower-cost services over a 10-year period outside of Quebec and that Shaw holds onto its licenses for a set period of time after the merger is approved. But he also said that as a regulator he is not compelled by any deadline.
The deal has already gotten the green light from the CRTC, the Competition Tribunal and the Federal Court of Appeal, after several failed attempts by the Competition Bureau to block the merger.
