Canada''s Competition Tribunal has ruled that the Rogers Communications Inc. July 8 service outage is relevant to the upcoming hearings on the telecom giant''s $26-billion takeover of Shaw Communications Inc.
Rogers'' July 8 service outage is relevant to the upcoming hearings on the telecom giant''s $26-billion takeover of Shaw Communications.
TORONTO — The Canadian Bond Investors’ Association (CBIA) wants Rogers Communications Inc to revise the company’s proposed terms of changes to its bonds issued to fund Rogers’ buyout of Shaw Communications Inc , the association said on Thursday. The CBIA, a group representing 50 of the largest fixed income institutional investors in Canada, said Rogers […]
TORONTO — The Canadian Bond Investors’ Association (CBIA) said on Thursday it wants Rogers Communications Inc to revise terms of changes the company proposed earlier this week to its $9.35 billion in bonds issued to fund the buyout of Shaw Communications Inc. The CBIA, a group that represents 50 of the largest fixed income institutional […]
Rogers Communications Inc. said it’s seeking approval from investors who hold $9.35 billion of bonds to extend the deadline to complete its acquisition of Shaw Communications Inc.
Following an agreement announced on June 17, Rogers Communications, Shaw Communications and Quebecor announced today that they have entered into a definitive agreement for the sale of Freedom Mobile to Videotron, a subsidiary of Quebecor, subject to regulatory approvals and completion of the Shaw and Rogers merger, announced March 15, 2021. Quebecor’s acquisition of Freedom
When Rogers Communications (RCI) announced they intended to merge with Shaw Communications (SJR) back in March, 2021, the shot rang out across the country as a thinly veiled attempt to further consolidate a Canadian telecom industry that was already perceived as a monopoly. A bumpy ride followed this announcement as outlined in an earlier EG… Read More » Rogers/Shaw merger draws closer with Freedom Mobile definitive agreement The post Rogers/Shaw merger draws closer with Freedom Mobile definitive agreement appeared first on Equity.Guru .
Rogers Communication, Inc (NYSE: RCI ) and Shaw Communications Inc (NYSE: SJR ) agreed to the sale of Freedom Mobile Inc to Quebecor Inc (OTC: QBCRF ) subsidiary Videotron Ltd. The financial terms of the transaction remain undisclosed. The transaction holds the potential to create a strong fourth national wireless services provider. It addresses the concerns raised by the Commissioner of Competition and … Full story available on Benzinga.com
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Jim Senko, head of Telus Corp’s mobile phone unit, said the sale of Shaw Communications Inc. to Rogers Communications Inc. could curb competition in key markets, including Western Canada.
Rogers Communications Inc. reiterated its forecast for at least 6% growth in service revenue this year and extended the deadline for its proposed acquisition of Shaw Communications Inc. to the end of December.
Rogers Communications (RCI) and Shaw Communications (SJR) have agreed to extend the outside date of their proposed merger to Dec
Shaw Communications (NYSE:SJR) declares $0.0985/share monthly dividend, in line with previous.Forward yield 4.44%Payable Aug. 30; for shareholders of record Aug. 15; ex-div Aug.
Equities in Toronto slid on Tuesday, tracking weakness in global markets as investors braced for key earnings reports and a big U.S. interest rate hike this week, while e-commerce giant Shopify dropped on cutting 10% of its workforce. The TSX docked 8.59 points to open the Tuesday session at 19,095.89. The Canadian dollar fell 0.08 cents to 77.73 cents U.S. Investors are looking for results from commodity-linked companies including miner First Quantum Minerals later in the day and energy companies such as Enbridge and Imperial Oil this week. First Quantum opened Tuesday up 29 cents, or 1.5%, to $19.85. Enbridge shares took on 36 cents to $56.85. Imperial Oil shares added 97 cents, or 1.7%, to $58.14. Canada will examine the resiliency of telecom networks across the country before approving Rogers Communications’ proposed $20-billion purchase of Shaw Communications. Rogers started Tuesday off 22 cents to $60.05, while those for Shaw dipped 27 cents to $34.43. ON BAYSTREET The TSX Venture Exchange hesitated 0.35 points to 607.91.
OTTAWA — Canada will examine the resiliency of telecom networks across the country before approving Rogers Communications Inc’s proposed C$20 billion ($15.6 billion) acquisition of Shaw Communications Inc , Industry Minister Francois Philippe Champagne said on Monday. The deal is being blocked by Canada’s competition bureau but Champagne has the last word on approving the […]
OTTAWA — A combined Rogers Communications and Shaw Communications Inc would be able to invest in the resiliency of telecom networks at a level that neither company can do alone, Rogers Chief Executive Tony Staffieri told lawmakers on Monday. Staffieri made the case for approval of the proposed C$20 billion acquisition of Shaw while answering […]
OTTAWA — Canada’s antitrust agency said on Friday it needs more time to investigate the concession offered by Rogers Communications Inc to allay competition concerns over its proposed C$20 billion ($15.5 billion) takeover of Shaw Communications Inc’s, a move that Rogers swiftly opposed. Rogers has agreed to sell Freedom Mobile to Quebecor Inc to overcome […]
OTTAWA — Canada’s competition bureau said on Friday it needs more time to investigate the proposed sale of Shaw Communications Inc’s Freedom Mobile to Quebecor Inc. Information about the sale of Freedom that the bureau currently has does not address antitrust issues posed by Rogers Communications Inc’s C$20 billion ($15.5 billion) acquisition of Shaw, the […]
OTTAWA — Canada’s competition bureau said on Friday it needs more time to investigate the proposed sale of Shaw Communications Inc’s Freedom Mobile to Quebecor Inc. Information about the sale that the bureau currently has does not address antitrust issues posed by Rogers Communications Inc’s C$20 billion acquisition of Shaw, the competition watchdog said in […]
Thursday saw equities in Canada run their win streak to a fifth straight session, as gains in techs and industrials overpowered losses in health-care and energy. The TSX advanced 42.18 points to close Thursday at 19,062.85 The Canadian dollar was up 0.09 cents Thursday to 77.69 cents U.S. Tech issues moved forward as Shopify piled on $2.42, or 4.9%, to $52.08, while Tecsys rallied $1.77, or 5%, to $37.23. Among industrials, Mullen Group traveled $1.45. or 12.4%, to $13.19, while TFI International climbed $3.67, or 3.2%, to $119.58. In real-estate, Summit REIT units acquired 53 cents, or 3.1%, to conclude Thursday at $17.51, while Interrent REIT, up 32 cents, or 2.6%, to $12.52. Health-care proved a weight on the index, as Canopy Growth slid 36 cents, or 9.2%, to $3.57, while Aurora Cannabis gave back 15 cents, or 7.1%, to $3.57. In energy stocks, Precision Drilling capsized $3.73, or 4.9%, to $72.80, while Tamarack Valley Energy fell back 20 cents, or 4.7%, to $4.08. Rogers Communications sank 36 cents to $60.04, on appointing Ron McKenzie as its new chief technology and information officer, weeks after an unprecedented outage at one of Canada''s biggest telecom operators shut banking, transport and government access for millions.
By Divya Rajagopal TORONTO (Reuters) – Rogers Communications faces a tough antitrust regulator and a July 31 deadline to close its C$20 billion ($15.5 billion) acquisition of Calgary-based Shaw Communications.
Rogers Communications faces a tough antitrust regulator and a July 31 deadline to close its C$20 billion ($15.5 billion) acquisition of Calgary-based Shaw Communications .
There are less than two weeks until the biggest cable merger in Canadian history -- the tie-up between Rogers Communications Inc. and Shaw Communications Inc. -- is supposed to be nailed down.
Federal Industry Minister Francois-Philippe Champagne says last week’s massive outage at Rogers Communications Inc. will be on his mind as he weighs the telecom provider’s proposed $26-billion takeover of Shaw Communications Inc. The Rogers-Shaw transaction already has approval from shareholders and the Canadian Radio-television and Telecommunications Commission, but still needs approval from the Competition Bureau […] The post Industry minister suggests Rogers outage could weigh on $26B Shaw deal appeared first on CityNews Winnipeg .
Federal Industry Minister François-Philippe Champagne says last week''s massive outage at Rogers Communications Inc. will be on his mind as he weighs the telecom provider''s proposed $26-billion takeover of Shaw Communications Inc.
Investors are casting more doubt over Rogers Communications Inc.’s proposed C$20 billion takeover of Shaw Communications Inc. as last week’s national network failure draws increasing scrutiny from Canada’s industry watchdogs.
Investors are casting more doubt over Rogers Communications Inc.’s proposed C$20 billion takeover of Shaw Communications Inc. as last week’s national network failure draws increasing scrutiny from Canada’s industry watchdogs.
Rogers Communications (RCI) is crediting customers for five days of service to compensate them for the national internet outage they experienced on July 8. Rogers had initially said it would credit customers for two days of internet service but raised that amount to five days as the company faces ongoing criticism over the massive network outage that left businesses and consumers across Canada without internet access for 19 hours. The credits are just one issue Rogers is dealing with after the outage. The company is also expected to be hit with a class-action lawsuit by customers, though no legal action has been initiated yet. National Bank estimates that Canada’s economy lost $142 million because of the one-day outage at Rogers, as some businesses couldn’t process debit or credit card payments. Rogers’ outage impacted 25% (a quarter) of Canada’s entire internet connectivity, according to data from Netblocks. The outage occurred as Rogers is trying to win regulatory approval for its proposed $20 billion takeover of rival Shaw Communications (SJR).
TORONTO/OTTAWA : Shares of Rogers Communications Inc and takeover target Shaw Communications fell yesterday as analysts voiced concerns over increased risk to the C$20 billion (RM68 billion) deal following last week''s 19-hour Rogers outage. Rogers suffered an unprecedented outage on Friday that affected nearly every facet of daily life in Canada as access to internet and phone services, both mobile and landline, was cut off. Some callers could not reach emergency services via 911 calls, police across Canada said. Yesterday, Canadian payment gateway Interac said it was adding another network provider to its system after the Rogers outage left millions of Canadians locked out of online payments. “We are adding a supplier (besides Rogers) to strengthen our existing network redundancy so Canadians can continue to rely on Interac daily,” Interac said in a statement. Rogers’ Canadian-listed shares fell 4.6% and Shaw dropped 4.3% to C$34.67, while the benchmark Canadian share index ended down 1.2%.
Rogers suffered an unprecedented outage on Friday. Affected nearly every facet of daily life in Canada. Shaw dropped 4.3% to C$34.67. Canadian share index ended down 1.2%. Rogers has offered C$40 per Shaw share. Canada’s Competition Ministry is meeting with Rogers. Rogers Communications Inc (RCIb.TO) and takeover target Shaw Communications (SJRb.TO) fell on Monday as […] The post Rogers, Shaw shares fall as outage raises uncertainty over C$20 bln deal appeared first on BOL News .
Shares of Rogers Communications Inc and takeover target Shaw Communications fell on Monday as analysts voiced concerns over increased risk to the C$20 billion ($15.4 billion) deal following last week’s 19-hour Rogers outage. Rogers suffered an unprecedented outage on Friday that affected nearly every facet of daily life in Canada as access to internet and […]
TORONTO — As the fallout from the Rogers Communications Inc. service outage continues to play out, one competition expert says she doesn''t think it will "sink" the telecom giant''s proposed $26-billion takeover of Shaw Communications Inc.
The head of Rogers says he’s still committed to completing the $20-billion takeover of Shaw Communications Inc. despite potential increased regulatory risk for the deal following a massive network outage.
The Rogers Building, the green-topped campus of Canadian media company Rogers Communications, is seen in downtown Toronto, Ontario, Canada on July 9, 2022. REUTERS/Chris Hellgren Register now to get free unlimited access to Reuters.com Register TORONTO, July 10 (Reuters) – Rogers Communications (RCIb.TO) It complicated its chances of winning antitrust approval for a C$20 billion telecoms merger after Friday’s massive outage that highlighted the dangers of Canada’s effective telecoms monopoly and sparked a backlash against its dominance of the industry. Rogers’ network outage disrupted nearly every aspect of daily life, cutting off banking, transportation and government incomes for millions, and hitting the nation’s cashless payments system and Air Canada’s. (AC.TO) call center. Consumers and opposition politicians have called on the government to allow more competition and enact policy changes to reduce the influence of telecom companies. Rogers, BCE Inc (BCE.TO) and Telus Corp (T.TO) Controlling 90% of the market share in Canada.
The disruption of services comes as Rogers is trying to win regulatory approval of its $26-billion takeover of Shaw Communications Inc.
A general view of the Rogers Building, Rogers Communications headquarters in Toronto, Ontario, Canada, October 22, 2021. REUTERS/Carlos Osorio Register now to get free unlimited access to Reuters.com Register Rogers dominates the Canadian telecom sector Banking services are disrupted, transportation is disrupted The outage renews criticism of competition in the telecommunications sector TORONTO/OTTAWA (Reuters) – A major network outage at one of Canada’s largest telecom operators shut down banks, transport and government income for millions on Friday, angering customers and adding to criticism over Rogers Communications. (RCIb.TO) Industry dominance. Almost every aspect of life is disrupted. Canadians who usually work from home crowd cafes and public libraries that still provide internet access and hover outside hotels to pick up a signal. The Canada Border Services Agency said its mobile app for incoming travelers has been affected. Cashless payment systems for retailers declined, while banks reported problems with ATM services.
Millions Of Canadians Can''t Use Debit Cards Due To "Nationwide Internet Outage" Canada''s Rogers Communications Inc. reported widespread network outages on Friday morning, affecting financial institutions, government agencies, law enforcement, businesses, and wireless phone and home internet customers . "We are aware of issues currently affecting our networks and our teams are fully engaged to resolve the issue as soon as possible," Toronto-based Rogers tweeted. We know how important it is for our customers to stay connected. We are aware of issues currently affecting our networks and our teams are fully engaged to resolve the issue as soon as possible. We will continue to keep you updated as we have more information to share. — Rogers News (@AboutRogers) July 8, 2022 Customers were extremely angry with Rogers, responding to the tweet by saying: " $400/mth for services I can''t even f**king use . This company is and will always be a f**king joke ," one person said . Another said : " for my American followers : Canada has only two companies with telecom infrastructure in the entire country and one of them is currently suffering a complete nationwide outage ." WSJ reports Rogers'' customers first reported outages around 0400 ET.
OTTAWA — Montreal-based Quebecor Inc , through its unit Videotron, will intervene in the antitrust review of Rogers Communications Inc’s C$20 billion ($15.5 billion) purchase of Shaw Communications Inc , according to a notice posted Friday on the website of Canada’s competition tribunal. ($1 = 1.2940 Canadian dollars) (Reporting by Ismail Shakil in Ottawa and […]
TORONTO — The merger saga of Rogers Communications Inc. and Shaw Communications Inc. continues as two days of talks with the Competition Bureau failed to resolve the watchdog’s objections to the companies’ proposed deal. Here’s a look at some key moments leading up to this point: March 15, 2021: Rogers announces an agreement to buy […]
Shaw Communications (SJR) fell 3% after the telecom operator and Rogers Communications (RCI) failed to reached an agreement with Canadian antitrust officials after two days of…
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. The Commissioner of […]
The attorney general of Alberta will intervene in competition tribunal proceedings regarding the $26-billion merger between Rogers Communications Inc. and Shaw Communications Inc., according to a notice filed Monday. The notice of intervention states that the “successes and failures” of the deal will have an impact on Alberta consumers and the province’s economy. It also […]
OTTAWA — Canada’s Alberta province will intervene in competition tribunal proceedings of a proposed C$20 billion ($15.33 billion) merger between Rogers Communications Inc and Shaw Communications Inc because it will impact the provincial economy, Alberta’s attorney general said in a notice on Tuesday. The companies “have significant presence in Alberta’s telecommunications market and their successes […]
TORONTO — Canada’s antitrust authority, Rogers Communications and Shaw Communications will begin two-day negotiations on Monday to discuss possible remedies to the contested C$20 billion ($15.5 billion) takeover of Shaw by Rogers, as the July deadline for the deal closure looms. The regulator has blocked the deal saying it would significantly lessen competition in the […]
The sale of Shaw to Rogers will probably close in July. Read more on a merger arbitrage opportunity with these Canadian companies.
Shaw Communications press release (SJR): Q3 GAAP EPS of $0.41 beats by $0.11.Revenue of $1.35B (-2.2% Y/Y) beats by $290M.Third quarter consolidated financial results include…
CALGARY, Alberta, June 30, 2022 (GLOBE NEWSWIRE) -- Shaw Communications Inc. (“Shaw” or the “Company”) announces consolidated financial and operating results for the quarter ended May 31, 2022. On a year-over-year basis, consolidated revenue decreased by 2.1% to $1.35 billion, adjusted EBITDA increased 0.3% to $644 million and net income decreased 42.7% to $203 million. The prior year period included incremental Wireline Consumer revenue of approximately $20 million related to the release of a provision following the Canadian Radiotelevision and Telecommunications Commission (CRTC) decision on final aggregated Third Party Internet Access (TPIA) rates. On a year-over-year basis, this revenue impact is effectively offset by equity-based compensation adjustments driven by significant fluctuations in Shaw’s share price and adjustments to employee benefits provisions, resulting in no significant impact on EBITDA variances.
TORONTO — Rogers Communications Inc , Shaw Communications Inc and Canada’s competition bureau have agreed to start a mediation process to overcome the agency’s antitrust issues posed by Rogers’ C$20 billion ($15.5 billion) acquisition of Shaw, the competition tribunal said on Friday. The move follows weeks of back and forth between the parties after the […]
TORONTO — Rogers Communications Inc , Shaw Communications Inc, and Canada’s competition bureau want to participate in a mediation process for the companies’ proposed C$20 billion ($15.5 billion) merger in the Competition Tribunal in July, the tribunal said on Friday. “The parties have advised the tribunal that they wish to participate in the mediation set […]
TORONTO — Rogers Communications Inc , Shaw Communications Inc, and the Canada’s competition bureau wish to participate in a mediation process for the companies’ proposed C $20 billion ($15.5 billion) merger in the Competition Tribunal on July 4-5, the tribunal said on Friday. Canada’s competition bureau has blocked Rogers’ proposed purchase of Shaw on the […]