Rogers, Shaw to sell Freedom Mobile to Quebecor
Rogers Communications and Shaw Communications have entered into a definitive agreement to sell mobile communications subsidiary Freedom Mobile to Quebecor subsidiary Videotron. The agreement is subject to regulatory approvals and the closing of the merger of Shaw and Rogers announced in March, 2021. The sale was necessary to meet the conditions for the merger set by the Commissioner of Competition and the Minister of Innovation, Science and Industry.
“This agreement with Quebecor brings us one step closer to completing our merger with Shaw,” said Tony Staffieri, president and CEO of Rogers. “We strongly believe that this divestiture solution addresses the concerns raised by the Commissioner of Competition and the Minister of Innovation, Science and Industry and we look forward to securing the outstanding regulatory approvals for our merger with Shaw so that we can start delivering its significant long-term benefits to Canadian consumers and businesses, including improved network resiliency.”