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Search resuls for: "Shaw Communications"


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☆ TSX futures rise on commodity boost, BoC rate decision in focus
  + stars: | 2022-10-26 | by ( ) www.reuters.com   time to read: +1 min
Oct 26 (Reuters) - Futures for Canada's resources-heavy stock index rose on Wednesday as commodity prices gained, while investors awaited policy decision from the country's central bank which is expected to deliver another big rate hike. read moreTraders are currently pricing in a 84.3% chance of a 75 bps hike to 4.0% after inflation data last week came in hotter than forecast. Futures on the S&P/TSX index inched up 0.1% at 06:59 a.m. ET, although Wall Street futures tumbled after disappointing results from technology giants Microsoft (MSFT.O) and Alphabet (GOOGL.O) raised fears of slowing economic growth. ($1 = 1.3554 Canadian dollars)Reporting by Shashwat Chauhan in Bengaluru; Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.
☆ Canada slaps curbs on Rogers' remedy offer to win $14.7 bln Shaw purchase
  + stars: | 2022-10-26 | by ( Divya Rajagopal Dan Whitcomb | Divya Rajagopal | Dan Whitcomb | ) www.reuters.com   time to read: +2 min
Oct 25 (Reuters) - Canada on Tuesday imposed conditions on Rogers Communications' (RCIb.TO) proposed remedy to overcome competition bureau concerns about Rogers' planned C$20 billion ($14.7 billion) purchase of rival Shaw Communications (SJRb.TO). Rogers has offered to sell Shaw's Freedom Mobile unit to Quebecor Inc's (QBRb.TO) Videotron to allay the antitrust bureau's concerns over reduced competition in the Canadian market following the Shaw deal. Canadian Industry Minister François-Philippe Champagne told a media conference on Tuesday that Videotron would be required to hold the Freedom Mobile unit for at least 10 years. Champagne also said the government has formally rejected the wholesale transfer of wireless spectrum license from Shaw to Rogers under the original deal. Canada Competition Bureau has said the sale of Freedom Mobile to Videotron is not sufficient to overcome its concerns about market concentration.
☆ Rogers, Shaw shares jump as deal prospects brighten after govt intervention
  + stars: | 2022-10-26 | by ( Divya Rajagopal Tiyashi Datta | Divya Rajagopal | Tiyashi Datta | ) www.reuters.com   time to read: +3 min
Rogers' launched the deal to buy Shaw in March 2021, but the competition bureau blocked it saying it would lessen competition in a market which has among the highest wireless prices in the world. He said since the competition bureau sits under the minister, it is a signal to the bureau to settle. The competition bureau did not reply to an email seeking comment. Champagne's announcement comes as the companies start a two-day mediation process starting Thursday at the Competition Tribunal. Competition bureau has said the sale of Freedom Mobile to Quebecor is not sufficient to overcome its concerns about market concentration.
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