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Canada regulator obtains court order to advance review of Rogers' acquisition of Shaw

Published 08/05/2021, 12:20 PM
Updated 08/05/2021, 12:51 PM
© Reuters. FILE PHOTO: The Shaw Communications logo is seen at their office in Calgary, Alberta, Canada, April 17, 2019. REUTERS/Chris Wattie/File Photo/File Photo

© Reuters. FILE PHOTO: The Shaw Communications logo is seen at their office in Calgary, Alberta, Canada, April 17, 2019. REUTERS/Chris Wattie/File Photo/File Photo

By Moira Warburton

(Reuters) - The Canadian regulator looking into telecom company Rogers (NYSE:ROG) Communications' planned C$20 billion ($16 billion) purchase of Shaw Communications (NYSE:SJR), has obtained court orders to advance its review, the Competition Bureau said on Thursday.

In March, Rogers agreed to buy Shaw in a deal that would create Canada's second-largest cellular and cable operator.

The Canadian government was quick to say it would attract stiff regulatory scrutiny, including an investigation from the Competition Bureau and a parliamentary hearing.

The orders obtained earlier this week will allow the bureau to compel companies including BCE (NYSE:BCE) Inc, TELUS Corp and Quebecor Inc-owned Videotron to produce records relevant to the investigation, a statement from the bureau said.

It is not clear how long the investigation will take, the statement said.

© Reuters. FILE PHOTO: The Shaw Communications logo is seen at their office in Calgary, Alberta, Canada, April 17, 2019. REUTERS/Chris Wattie/File Photo/File Photo

Rogers and Shaw declined to comment on the move.

Rogers shares were flat while Shaw shares were up 0.8%, while the benchmark Canadian share index was up 0.4%.

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