OTTAWA, Canada — Canada’s federal industry minister said Tuesday he would not approve a multi-billion-dollar merger between Rogers Communications Inc. and Shaw Communications, two of the country’s largest telecommunication companies.
Industry Minister Francois-Philippe Champagne did leave the door open to a revised agreement.
The US$19.1 billion (Cdn$26 billion) proposed merger would have meant the wholesale transfer of wireless spectrum licenses from Shaw to Rogers, which requires Champagne’s approval.
“Today, I officially denied that request,” Champagne said. “My decision formally closes that chapter of the original proposed transaction.”
Shaw’s ownership of Freedom Mobile has widely been seen as the main obstacle to the deal’s approval. Montreal-based Videotron earlier this year agreed to buy it for US$2.1 billion (Cdn$2.85 billion).
Champagne said he needed two…
