Rogers Communications, Shaw Communications and Quebecor announced that they have entered into an agreement for the sale of Freedom Mobile to Videotron.
The parties strongly believe the Freedom Transaction provides the best opportunity to create a strong fourth national wireless services provider and addresses the concerns raised by the Commissioner of Competition and the Minister of Innovation, Science and Industry regarding the Rogers-Shaw Transaction. With this Agreement, the new combined business of Videotron and Freedom will be well-positioned to launch a strong, competitive national 5G offering, using Videotron's 3500 MHz holdings.
Tony Staffieri, President and CEO of Rogers
We strongly believe that this divestiture solution addresses the concerns raised by the Commissioner of Competition and the Minister of Innovation, Science and Industry and we look forward to securing the outstanding regulatory approvals for our merger with Shaw so that we can start delivering its significant long-term benefits to Canadian consumers and businesses, including improved network resiliency.
Brad Shaw, Executive Chairman and CEO of Shaw
My family, our management team, and our people are extremely proud of what we built with Freedom Mobile. Over the past six years we invested billions of dollars and launched products and services that disrupted the marketplace and helped redefine what Canadians can expect from their wireless carrier, but there's much more that could be done as next generation networks are deployed, technology becomes more sophisticated and consumers' demands for fast and responsive applications continue to increase.
