{"id":55083,"date":"2023-08-30T22:18:47","date_gmt":"2023-08-31T02:18:47","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/canadas-competition-bureau-ordered-to-pay-nearly-10-million-to-rogers-shaw\/"},"modified":"2023-08-30T22:18:49","modified_gmt":"2023-08-31T02:18:49","slug":"canadas-competition-bureau-ordered-to-pay-nearly-10-million-to-rogers-shaw","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=55083","title":{"rendered":"Canada’s competition bureau ordered to pay nearly $10 million to Rogers, Shaw"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: The Rogers Building, the green-topped corporate campus of Canadian media conglomerate Rogers Communications is seen in downtown Toronto, Ontario, Canada July 9, 2022. REUTERS\/Chris Helgren\/File Photo<\/span>
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(Reuters) – Canada’s merger court asked the competition bureau to pay about C$13 million ($9.58 million) to Rogers (NYSE:) Communications and Shaw Communications (NYSE:) for the lengthy court battle after its failed attempt to block the telecom firms’ C$20-billion merger.<\/p>\n

The Competition Tribunal, Canada’s merger court, in a ruling dated Aug. 28 said the Commissioner of Competition Matthew Boswell’s approach to block the deal was “unreasonable”. <\/p>\n

The companies maintained that Boswell “adopted an unnecessarily contentious approach throughout the litigation, which significantly increased the costs that they were required to incur,” the tribunal said. <\/p>\n

The Rogers-Shaw merger had faced intense opposition from Canada’s antitrust regulator whose efforts to block it were rejected by the Competition Tribunal and a Canadian court.<\/p>\n

The bureau’s biggest concern was the deal would lessen competition in a country where wireless bills are already among the highest in the world. <\/p>\n

In March, Canada approved Rogers’ buyout of Shaw Communications after securing binding commitments to pay financial penalties if it failed to create new jobs and invest to expand its network.<\/p>\n

($1 = 1.3571 Canadian dollars) <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: The Rogers Building, the green-topped corporate campus of Canadian media conglomerate Rogers Communications is seen in downtown Toronto, Ontario, Canada July 9, 2022. REUTERS\/Chris Helgren\/File Photo (Reuters) – Canada’s merger court asked the competition bureau to pay about C$13 million ($9.58 million) to Rogers (NYSE:) Communications and Shaw Communications (NYSE:) for […]<\/p>\n","protected":false},"author":1,"featured_media":2609,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-55083","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nCanada's competition bureau ordered to pay nearly $10 million to Rogers, Shaw | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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