Canadian communications companies Rogers and Shaw have come to an injunction with the Competition Bureau this week.
The two companies will be opposing a hearing held by the Bureau however they have agreed to not close their merger, a massive deal worth $26 billion, until the Bureau’s rejections have been solved.
In a press statement released on Monday of this week the two companies stated that their agreement, alongside commissioner of competition Matthew Boswell, will allow “the parties to focus on addressing (his) concerns with the transaction in order to reach a settlement.”
Earlier this month Boswell filed an application to block the acquisition, citing that the deal would make things worse for consumers. Alongside this, he believes that with Shaw gone from the competitive market, the decades of progress made in the telecom field would be undone.
However, the companies see otherwise, stating that the merger is the “best path” to guarantee the benefits it would bring to the Canadian economy. They announced in their release: “If a Tribunal hearing is ultimately required to address the commissioner’s application to prevent the transaction, Rogers and Shaw intend to oppose it.”
However, until the commissioner’s concerns have been decided on, Rogers cannot limit Shaw’s abilities as a telecommunicator.
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