10:56:09 EDT Mon 20 May 2024
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Quebecor Inc
Symbol QBR
Shares Issued 153,965,202
Close 2023-08-29 C$ 32.13
Market Cap C$ 4,946,901,940
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Globe says Competition Bureau to pay millions to Rogers

2023-08-30 08:48 ET - In the News

See In the News (C-RCI) Rogers Communications Inc

The Globe and Mail reports in its Wednesday edition that Canada's merger court has ordered the Commissioner of Competition to pay Rogers and Shaw millions of dollars of costs related to the commissioner's unsuccessful attempt to block the telcos' $20-billion deal. The Globe's Alexandra Posadzki writes that the Competition Tribunal, which adjudicates cases brought forward by the Competition Bureau, an independent law-enforcement agency, has ordered the Commissioner of Competition to pay $9.29-million to Rogers and $2.83-million to Shaw for costs relating to the expert witnesses who produced reports and testified during the weeks-long hearing in front of the tribunal. Additionally, the tribunal has awarded legal fees of $414,720 to Rogers and $416,187 to Shaw, which has since been absorbed by Rogers. According to the tribunal's decision, signed by Federal Court Chief Justice Paul Crampton, Competition Commissioner Matthew Boswell "adopted an unnecessarily contentious approach at numerous points during the litigation" and was "intransigent" in refusing to focus on the divestiture of Shaw's wireless carrier, Freedom Mobile, to Quebecor. Rogers's takeover of Shaw closed in April this year, after gaining cabinet approval.

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