Rogers Communications Inc. is still waiting to see if it can win regulatory approval for a takeover of a smaller Canadian cable company, 17 months after it was first announced. The situation has handed a huge advantage to its two biggest rivals, according to an industry analyst.
Canada’s largest wireless and cable firm agreed in March 2021 to a C$20 billion ($15.4 billion) deal to buy Shaw Communications Inc. The country’s antitrust regulator is trying to block the transaction, forcing the companies to extend the deadline. It’s possible it won’t close until early 2023, if it closes at all -- causing Rogers to ask holders of M&A bonds on Monday if they’ll agree to relax the terms.