Canadian regulator obtains court order to review Rogers’ acquisition of Shaw in advance By Reuters

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© Reuters. File photo: The Shaw Communications logo was seen at their office in Calgary, Alberta, Canada on April 17, 2019. REUTERS/Chris Wattie/File Photo/File Photo

Moira Warburton

(Reuters)-Canadian regulators are investigating the telecommunications company Rogers (NYSE:) Communications’ plan to acquire Shaw Communications (NYSE:) for 20 billion Canadian dollars ($16 billion), and has received a court order to advance its review, Competition Bureau Said on Thursday.

In March, Rogers agreed to acquire Shaw, a transaction that will create Canada’s second largest cellular and cable television operator.

The Canadian government quickly stated that it will be subject to strict regulatory review, including an investigation by the Competition Bureau and parliamentary hearings.

A statement from the bureau said that the order obtained earlier this week would allow the bureau to force companies including BCE (NYSE:) Inc, TELUS Corp and Quebecor Inc’s Videotron to provide records related to the investigation.

The statement said that it is not yet clear how long the investigation will take.

Rogers and Xiao declined to comment on the move.

Rogers shares were flat, Shaw shares rose 0.8%, while the benchmark Canadian stock index rose 0.4%.

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