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Rogers set to buy Shaw in $26 billion deal between 2 Canadian telecom giants

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Canadian telecom giant Rogers Communications Inc. has signed a deal to buy fellow Canadian telecom giant Shaw Communications Inc. in a deal valued at $26 billion, including debt.

As part of the transaction, the companies said Rogers will invest $2.5 billion in 5G networks over the next five years across Western Canada.

Rogers also says it will create a new $1-billion fund dedicated to connecting rural, remote and Indigenous communities across Western Canada to high-speed internet service.

The combined company will create a Western regional headquarters in Calgary, where the president of Western operations and other senior executives will be based.

“While unlocking tremendous shareholder value, combining (the) companies also creates a truly national provider with the capacity to invest greater resources expeditiously to build the wireline and wireless networks that all Canadians need for the long term,” Shaw executive chair and CEO Brad Shaw said in statement.

For more info, please go to https://globalnews.ca/news/7696622/rogers-shaw-merge-deal/

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Category
U.S. & Canada
Tags
Rogers, Shaw, Rogers Communications Inc
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