Canada's competition tribunal approved on Thursday Rogers Communications Inc's C$20 billion ($14.77 billion) bid for Shaw Communications Inc , ending the companies' 20-month-old dispute with the antitrust authority.
The decision by the tribunal paves the way for closing the merger that would create the second largest telecom company in Canada after Bell
The two telecoms companies, owned by billionaire Canadian families who have fought for decades to win market share, took their battle to Canada's competition tribunal, arguing that Shaw faced bleak prospects in the absence of a Rogers takeover. The panel also ruled that the proposed deal is not likely to lead to "materially higher" prices or a decline in service, quality or innovation.
"I am very disappointed that the Tribunal is dismissing our application to block the merger between Rogers and Shaw. We are carefully considering our next steps," Matthew Boswell, Commissioner of Competition, said in a statement.to facilitate the merger but the bureau rejected that, saying Quebecor was not a viable competitor with the merged entity.
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