ROGERS COMMUNICATIONS INC. By Adriano Marchese
The outside date of the proposed merger between Rogers Communications Inc. and Shaw Communications Inc. and the sale of Freedom Mobile Inc. has been pushed back to mid-February.
An outside date is a agreed-upon date after which any of the two parties can terminate the agreement without penalty if a closure hasn't taken place.
The two Canadian telecom companies, as well as the Shaw Family Living Trust and Quebecor Inc., said in a joint release on Monday that they agreed to extend the outside date to Feb. 17.
The companies are waiting for approval of the transfer of spectrum licenses from Shaw to Videotron, the Quebecor Inc. subsidiary buying Freedom Mobile, by the Canadian government department Innovation, Science and Economic Development Canada.
They said that all parties remain committed to the transactions.
On Jan. 24, Canada's Federal Court of Appeal dismissed a challenge by Canada's Competition Bureau to the pending $15-billion acquisition.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
01-30-23 0735ET
