OTTAWA, Canada (AP) — 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.”