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Canadian investment firm Globalive Capital Inc said on Thursday it has partnered with Telus Corp to bid for Shaw Communications Inc’s wireless business, Freedom Mobile.
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Globalive’s move comes after Canada’s antitrust agency planned to block telecom giant Rogers Communications Inc’s $16 billion deal to buy Calgary-based Shaw on the grounds it would reduce competition in the wireless industry.
“Telus and we believe that we are a strong remedy partner for Rogers to get the Shaw merger approved. We are also satisfying the government’s concerns of being the fourth carrier,” Globalive Chairman Anthony Lacavera told Reuters.
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Rogers offered to buy Shaw for $40.50 per share last year to create the country’s second-largest telecom company and take on rivals such as BCE Inc in a highly competitive market.
According to a report from The Globe and Mail from March, Globalive had offered to buy Freedom Mobile for $3.75 billion in cash.
Rogers reportedly had also asked Montreal-based telecommunications and media company Quebecor to bid for Shaw’s wireless business.
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