It dismissed an application by Canada’s antitrust czar, Matthew Boswell, to block the $20-billion transaction, which is one of the largest corporate mergers in Canada’s history.
The tribunal’s decision was already known because it issued a summary of its findings on Dec. 29, sending Shaw and Rogers shares higher Friday. But the release of the full text is a key step that allows Boswell to begin an appeal — which he has already said he will do.Article content The deadline for closing the deals is Jan. 31, and it can’t be extended past that date without Quebecor’s permission. Rogers and Shaw announced their combination almost two years ago, on March 15, 2021.Quebecor “has a proven record of aggressive pricing and innovation in Quebec and parts of Eastern Ontario.
Boswell’s only chance of stopping Rogers from buying Shaw is to persuade the Federal Court of Appeal to agree to hear his arguments. One potential ground for appeal is the fact the Competition Tribunal chose to look at the two deals together. The proposed sale of Shaw’s wireless assets to Quebecor wasn’t arranged until after Boswell filed suit against Rogers and Shaw.Article content