Rogers' $26-billion merger with Shaw could close this year, says CEO

The merger of Rogers and Shaw could close this year if mediation with the Competition Bureau goes well.

He said at the conference that they would be open to a dialogue to try to close the deal.

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Rogers and Shaw have lined up to sell Shaw's wireless division, and the deal could close in a few weeks.

He said that the deals need approval from Innovation, Science and Economic Development Canada and that the companies have extended their agreements into the future.

Staffieri said that there is a chance that the tribunal will make a decision this year.

The government has put a lot of issues in front of us.

The impact on Rogers of this summer's day-long wireline and wireless outage was insignificant and manageable in terms of the company's wireless subscriber base.

He said that a $150 million charge to compensate customers will affect revenue and earnings in the third quarter.

In May, the Competition Bureau said it would seek to block the merger of Rogers and Shaw because it would lead to higher prices for consumers.

The initial remedy proposed by the companies was rejected by the competition authority. The sale of Shaw's Freedom Mobile business to Quebecor was announced in June and finalized in August.

The price tag was less than analyst estimates, which had pegged the value of Freedom at $4 billion.

The merger of Rogers and Shaw was announced in March of 2020.

At Tuesday's conference, Staffieri acknowledged that mediation talks with the Competition Bureau failed to resolve the conflicting views over the merger's impact, but he said an "expedited resolution" would benefit all parties.

I'm open to that. The bureau hasn't responded to our request to move this file ahead of the tribunal.

The email is bshecter@postmedia.