© Reuters. FILE PHOTO: Ethernet cables are seen in entrance of Rogers and Shaw Communications logos on this illustration taken, July 8, 2022. REUTERS/Dado Ruvic/Illustrations
(Reuters) -Rogers Communications stated on Friday it can once more lengthen the deadline for its takeover of Shaw Communications (NYSE:) to March 31, because the wi-fi carriers await approval from Canadian business minister Francois-Philippe Champagne.
The businesses had set a Feb. 17 deadline final month.
The Rogers (NYSE:) deal for Shaw, which might create Canada’s No. 2 telecoms firm, had triggered issues of lessening competitors in a rustic the place wi-fi payments are already among the many highest on the planet.
To alleviate the antitrust points, Rogers-Shaw agreed to promote Freedom Cellular, a wi-fi enterprise owned by Shaw, to Quebecor. The C$2.85 billion ($2.11 billion) sale can be now anticipated to shut by March 31, the businesses stated.
Rogers introduced the C$20 billion bid for Shaw in March 2021.
($1 = 1.3534 Canadian {dollars})
