Québecor subsidiary Vidéotron has accomplished the acquisition of Freedom Cell from Shaw underneath the corporate’s transfer to merge with Rogers.
Via Vidéotron and Freedom, Québecor has greater than 3.5 million cell companies prospects, a press launch from the corporate states.
“The alliance of Freedom and Vidéotron will completely rework Canada’s wi-fi marketplace for the good thing about customers and create a brand new aggressive setting that delivers progressive services and products at higher costs,” Pierre Karl Péladeau, president and CEO of Québecor, mentioned.
The transfer additionally solidifies a settlement between Vidéotron and Rogers. In October 2021, Vidéotron filed to sue Rogers for $850 million regarding an alleged breach surrounding a network-sharing deal. Vidéotron didn’t present specifics however did say the 2 corporations are working collectively to proceed with the settlement.
Freedom’s possession change has been accomplished simply days after Innovation Minister François-Philippe Champagne authorized Rogers’ $26-billion takeover of Shaw. The businesses agreed to promote Freedom to Vidéotron in a $2.85 billion settlement.
Champagne granted approval after Québecor agreed to plenty of circumstances, together with offering plan choices which can be 20 p.c cheaper than the primary rivals, Bell, Telus, and Rogers.
Supply: Vidéotron
