Canada is set to approve on Friday a transfer of wireless licenses that will finally settle Rogers Communications Inc's C$20 billion ($15 billion) bid for Shaw Communications Inc , the Globe and Mail reported.
Francois-Philippe Champagne, Canada's Minister of Innovation, Science and Industry, is planning to approve the transfer of Shaw's wireless licenses held by its Freedom Mobile unit to Quebecor IncRogers and Shaw agreed to sell Freedom Mobile to Quebecor for C$2.85 billion to win government approval for the merger.
The minister will approve the transfer of Shaw's licenses to Quebecor's Videotron Ltd with a number of conditions attached, as well as financial penalties associated with breaking those conditions, the Globe and Mail said. The Rogers-Shaw tie-up will create Canada's No. 2 telecoms company. The deal has been under intense scrutiny from the competition bureau, as it was concerned that it would reduce competition in a country where wireless bills are already among the highest in the world.Champagne previously expressed support for the deal if certain conditions were met.
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