Rogers Communications has signed a deal to buy Shaw Communications in a transaction valued at $26 billion, including debt, which would create Canada’s No. 2 cellular operator — but is likely to face stiff regulatory scrutiny.
Under the plan, Rogers will pay $40.50 in cash for each of Shaw’s issued and outstanding class A and class B shares. Shaw’s class B shares closed at $23.90 on the Toronto Stock Exchange on Friday.
As part of the transaction, the companies said Rogers will invest $2.5 billion in 5G networks over the next five years across Western Canada.
Is this really a good idea? In Crony Capitalism Canada it is!
Rogers fines 91-year-old woman unable to return equipment due to lockdown
The family of a 91-year-old woman is outraged Rogers had demanded she pay hundreds of dollars for failing to return phone and internet equipment while her long-term care home was under lockdown.
The family cancelled those services for Joan Davis in early May after noticing her dementia was worsening and she was struggling to use them.
They kept basic cable to help her pass the time. Her daughter, Lori Davis, says Rogers told the family a technician would pick up the equipment, but never showed.
