TORONTO — Canada’s move to clear Rogers Communications Inc’s C$20 billion ($15 billion) bid for Shaw Communications Inc after two years should have been a balm…
Champagne said Canadians “rightfully expect and deserve more from their telecom sector.”
The minister’s office did not offer an immediate comment in response to a Reuters query on political interference in M&A.Article contentConsumer advocates have long derided the lack of competition in Canada from industries ranging from banking to telecoms. Rogers’ deal for Shaw was politically sensitive due to the sky-high wireless bills Canadians pay, which are among the highest in the world.
“In Canada, we have a toothless regulatory regime” and a political … … hasn’t said when he is or isn’t going to act, and that just creates uncertainty and ultimately has a chilling effect on M&A.” It was not clear which sectors might come most under fire, but Selfe said the more politicized an issue is, the more likely the government would react. To be sure, dealmaking in Canada follows the rule book, and political interference is a rarity, lawyers say.
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