After months of speculation a deal was finally agreed upon Freedom Mobile to be sold to Quebecor for $2.85 billion from telecom giant Shaw. Back in December 2015 Shaw acquired Freedom Mobile for $1.6 billion from Founder Anthony Lacavera. In November 2016 WIND Mobile was rebranded to Freedom Mobile.
The deal that was set days ago is a side deal with now sets up Rogers to move ahead with its plans to acquire Shaw for $20 billion. The Rogers-Shaw deal was announced months ago but was blocked due to competition concerns by the Canadian government. Freedom Mobile was the fourth largest wireless provider in Canada.
Rogers was quick to pounce on this news issuing a press release to further confirm their acquisition plans:
“Our agreement with Quebecor to divest Freedom is a critical step towards completing our proposed merger with Shaw. We strongly believe the divestiture will meet the Government of Canada’s objective of a strong and sustainable fourth wireless services provider,” said Tony Staffieri, President and CEO of Rogers. “This agreement between proven cable and wireless companies will ensure the continuation of a highly competitive market with robust future investments in Canada’s world class networks. We look forward to securing the outstanding regulatory approvals for our merger with Shaw so that we can deliver significant long-term benefits to Canadian consumers, businesses and the economy.”
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