Shaw Communications Inc. is pushing back against Canada's competition watchdog, arguing that a full block of Rogers Communications Inc.'s $26-billion proposed takeover would set the telecom industry back a generation.
In its opening arguments on the first day of a weeks-long public hearing before the Competition Tribunal, Shaw called the Competition Bureau's desire to prevent the deal from happening a "dramatic overreach."
The sale of Freedom Mobile to Videotron would see Quebecor buy all of Freedom's branded wireless and internet customers as well as all of Freedom's infrastructure, spectrum and retail locations in a move that would expand Quebecor's wireless operations nationally. Quebecor agreed to buy Freedom in a $2.85 billion deal earlier this year.
The barriers include the challenge of acquiring spectrum, which is scarce and expensive, building infrastructure, retail distribution, and getting customers on board, the Competition Bureau said. Shaw added that it has operated Freedom as a standalone company that can "easily" and "cleanly" be separated and sold.
Champagne -- who as minister of innovation, science and industry must approve any spectrum licence transfer -- left the door open to a revised agreement, saying he had two major stipulations.He also said he would "expect to see" wireless prices in Ontario and Western Canada lowered by about 20 per cent, putting them in line with Videotron's current Quebec offerings.
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