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    RCI.B   CA7751092007

ROGERS COMMUNICATIONS INC.

(RCI.B)
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Delayed Toronto Stock Exchange  -  04:00 2022-08-12 pm EDT
59.02 CAD   +0.53%
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Rogers and Shaw Say Mediation Hasn't Satisfied Canada Antitrust Regulator

07/06/2022 | 05:51am EDT

By Will Feuer


Rogers Communications Inc. and Shaw Communications Inc. said in a joint statement that early mediation with the Canadian commissioner of competition didn't resolve objections to the two companies' proposed $16 billion merger.

The companies said the review process will continue as previously disclosed, and that the companies aren't precluded from continuing discussions with the commissioner at any time.

"Rogers and Shaw intend to continue to work constructively with the Commissioner to highlight the many benefits of the merger to all Canadians, including maintaining a strong and sustainable fourth wireless carrier across Canada through the proposed divestiture of Freedom Wireless to Quebecor Inc.," the companies said.

Rogers and Shaw unveiled the planned merger last year, one of the most high-profile Canadian deals in years, and said the combination would help accelerate the deployment of 5G wireless service across the country. The merger faced public skepticism amid concerns the wireless-service business in Canada is too concentrated among a few companies.

Canada's Competition Bureau said in May it would seek to block the deal, arguing the transaction would "substantially prevent or lessen competition" in the country's wireless market.


Write to Will Feuer at Will.Feuer@wsj.com


(END) Dow Jones Newswires

07-06-22 0751ET

Stocks mentioned in the article
ChangeLast1st jan.
QUEBECOR INC. 7.11% 29.99 Delayed Quote.3.63%
ROGERS COMMUNICATIONS INC. 0.53% 59.02 Delayed Quote.-2.01%
SHAW COMMUNICATIONS INC. 1.30% 35.04 Delayed Quote.-8.73%
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Analyst Recommendations on ROGERS COMMUNICATIONS INC.
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Financials
Sales 2022 15 340 M 11 989 M 11 989 M
Net income 2022 1 702 M 1 330 M 1 330 M
Net Debt 2022 23 029 M 17 998 M 17 998 M
P/E ratio 2022 17,3x
Yield 2022 3,39%
Capitalization 30 019 M 23 461 M 23 461 M
EV / Sales 2022 3,46x
EV / Sales 2023 3,14x
Nbr of Employees 23 000
Free-Float 69,9%
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Mean consensus BUY
Number of Analysts 16
Last Close Price 59,02 CAD
Average target price 74,88 CAD
Spread / Average Target 26,9%
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Managers and Directors
Anthony Staffieri President, Chief Executive Officer & Director
Glenn Brandt Chief Financial Officer
Edward S. Rogers Chairman
Ron McKenzie Chief Technology & Information Officer
Robert Joseph Gemmell Lead Independent Director
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