Rogers Communications said on Wednesday talks with Canada's antitrust authority to discuss possible remedies to the blocked C$20 billion ($15.34 billion) takeover of Shaw Communications did not result in a resolution. Shares of Rogers were down 1.77% at C$61.99 at midmorning Shaw was down 2.93% at C$37.10 on the Toronto Stock Exchange. "Rogers and Shaw are not precluded from continuing discussions with the Commissioner at any time," the wireless companies said in a statement, as the July 31 deadline for closing the deal nears.
Shares of Rogers were down 1.77% at C$61.99 at midmorning Shaw was down 2.93% at C$37.10 on the Toronto Stock Exchange. "Rogers and Shaw are not precluded from continuing discussions with the Commissioner at any time," the wireless companies said in a statement, as the July 31 deadline for closing the deal nears. The inconclusive mediation process means the deal closure could drag on for months until the tribunal gives a verdict which could be at the end of this year, or the disputed parties reach a settlement.
Rogers Communications said on Wednesday talks with Canada's antitrust authority to discuss possible remedies to the blocked C$20 billion ($15.34 billion) takeover of Shaw Communications did not result in a resolution. "Rogers and Shaw are not precluded from continuing discussions with the Commissioner at any time," the wireless companies said in a statement, as the July deadline for the deal closure nears. To allay some antitrust concerns, Rogers has agreed to sell Freedom Mobile, one of Shaw's cellular businesses, to Montreal-based Quebecor.