Major shareholders, particularly members of the Rogers and Shaw families, will be the “biggest winners” and accrue the biggest share of any gains should the $26-billion merger of Rogers Communications Inc. and Shaw Communications Inc. proceed, an expert witness testified Friday as a second week of hearings to determine the fate of the deal came to a close.
The hearing before the Competition Tribunal is expected to last until mid-December and aims to resolve the impasse between the Commissioner of Competition, who wants to block the deal, and Rogers and Shaw.
The Competition Bureau is one of three regulatory agencies that must approve the deal, in addition to the CRTC and Innovation, Science and Economic Development Canada. Rogers wants to close the Shaw deal by the end of the year, with a possible further extension to Jan. 31, 2023.
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