Canadian judge dismisses regulator’s bid to block Rogers-Shaw merger

Source: Reuters

“A Canadian court on Tuesday dismissed the competition bureau’s effort to block Rogers Communications Inc’s C$20 billion bid to buy Shaw Communications Inc, in a boost to the companies’ efforts to close a deal struck nearly two years ago. ‘It would be pointless to send this case back to the competition tribunal for re-decision,’ Justice David Stratas told the court, calling many of the points of law the bureau raised ‘without merit.’ The proceeding in a Federal Court of Appeal in Ottawa was the antitrust bureau’s latest attempt to kill the deal, saying the transaction will hurt competition in the telecoms industry in Canada, where consumers pay some of the highest mobile phone bills in the world. Rogers and Shaw shares jumped on the decision, and both were trading up about 3% in late afternoon trade, while the benchmark Canadian share was lower.” (01/24/23)