Rogers Communications Inc. has closed its $26-billion purchase of Shaw Communications Inc. after receiving final approval from Ottawa last week, bringing to an end two years of uncertainty as regulators scrutinized the deal.
to the takeover on Friday by agreeing to the transfer of Shaw-owned Freedom Mobile's wireless licences to Quebecor Inc.'s Videotron, the final regulatory step allowing the main deal to go ahead.
It must also spend $5.5 billion to expand 5G coverage and additional network services, as well as a further $1 billion to connect rural, remote and Indigenous communities. "We are very pleased to be closing the acquisition of Freedom Mobile today, bringing its Canadian footprint as well as the expertise and experience of its employees into our fold," said Quebecor president and CEO Pierre Karl Peladeau in a press release.
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