Canada's move to clear Rogers Communications Inc's C$20 billion ($15 billion) bid for Shaw Communications Inc after two years should have been a balm to markets. Instead, dealmakers are worried about potential government intervention in mergers involving other sensitive sectors.
purchase of Shaw to proceed. But, in a dealmaking industry already challenged by rising interest rates and a cloudy economic future, the minister's decision is bringing added uncertainty, lawyers said.
Osborne worries there could be other cases where the minister decides he does not trust the competition bureau and wants to start politically interfering in mergers."We will continue to ensure the industry meets these standards, including improving competition, reliability and affordability," he added while approving the transfer of spectrum licenses.
the case. Champagne, who had the last say on the deal, stepped in and extracted binding conditions, which eventually led to the deal approval."What Rogers/Shaw illustrates is that today Canada's competition regime is highly political with unpredictable outcomes," said Neil Selfe, chief executive at advisory firm INFOR Financial.
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