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The proceeding in a Federal Court of Appeal in Ottawa is the antitrust bureau's latest attempt to kill the deal, saying the transaction will lessen competition in Canada's telecoms industry<\/a>, which has some of the highest mobile bills in the world.
But the bureau failed to convince the competition tribunal, a quasi court that handles merger disputes, that the deal is harmful for Canadian consumers. It was approved on Dec. 30.
Announced nearly two years ago, the deal has become a test case for the competition bureau's ability to increase choices for consumers in Canada, where a handful of companies control large swaths of businesses.
At stake is one of Canada's biggest-ever M&A deals, along with millions of dollars in legal and financial advisory fees. Investors have been closely watching the outcome and Shaw<\/a> shares have rallied in recent months on optimism over the deal's success.
Rogers<\/a> offered to sell Shaw<\/a>'s Freedom Mobile<\/a> unit to Quebecor's Videotron for C$2.85 billion to address anti-competition concerns, but the competition bureau argued that a merged Rogers-Shaw would not have a viable competitor in Quebecor. Shaw and Rogers intend to finalize the deal by Jan. 31, though the deadline can be extended in agreement with Quebecor.
\"I think the appeal is going to be dismissed,\" said Michael Osborne, a competition lawyer at law firm Cozen O'Connor. \"I think it's a bad appeal. For that reason, I think the Court of Appeal will make sure to do it in time for the parties to close.\"
A spokesperson for the competition bureau declined to comment while the matter was before the court.
It is not known whether Tuesday's hearing will result in a same-day verdict. Canada Industry<\/a> Minister Francois-Philippe Champagne, who has the final say on the matter, has said that he would give a separate decision only after there is \"clarity on the ongoing legal process.\"
\"It's possible that the FCA could hear the (competition bureau's) arguments and render its decision without even listening to the companies or the hearing could run its course on Jan. 24 with a decision from the bench at its conclusion,\" National Bank of Canada analysts said in a note last week.
They noted that the bureau could also appeal to the Supreme Court<\/a> and would have 60 days to do so, but Osborne said whether they can progress with the appeal depends on the outcome of the hearing.
\"If the Federal Court of Appeal dismisses this thing from the bench on the day of the appeal, the likelihood of them getting leave to the Supreme Court<\/a> is not good,\" Osborne said.
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一决雌雄Rogers-Shaw,加拿大监管机构——联邦法院/ C 20美元左右
本在联邦上诉法院在渥太华是反垄断局的最新尝试杀死,说加拿大的事务会减少竞争的电信行业,拥有一些世界上最高的手机账单。
本在联邦上诉法院在渥太华是反垄断局的最新尝试杀死,说这笔交易将在加拿大电信减少竞争行业,世界上最高的手机账单。
但竞争局未能说服法庭,准法院合并处理纠纷,这笔交易对加拿大消费者是有害的。它是在12月30日批准。
大约两年前宣布这笔交易已经成为竞争局的一个测试用例的能力增加消费者选择在加拿大,少数公司控制的大片企业。
利害关系是加拿大有史以来最大的并购交易之一,随着数百万美元的法律和金融咨询费用。投资者一直在密切关注和结果肖近几个月来股价上涨对乐观的交易的成功。
罗杰斯提供给销售肖的自由移动单位Quebecor 28.5亿加元的Videotron应对反垄断担忧,但是竞争局认为,合并后在Quebecor Rogers-Shaw就没有一个可行的竞争对手。肖和罗杰斯打算1月31日敲定这笔交易,尽管与Quebecor期限可以延长协议。
“我认为上诉被驳回,”迈克尔·奥斯本说,一个律师事务所律师事务所瞒奥康纳的竞争。“我认为这是一个坏的吸引力。出于这个原因,我认为,上诉法院将确保在当事人关闭的时候了。”
竞争局发言人拒绝置评,而法院前的事。
目前尚不清楚周二的听证会将在当天的判决结果。加拿大行业部长Francois-Philippe香槟有最终决定权,曾说过,他会给一个单独的决定之后才有“明确的法律程序”。
“可能FCA能听到(竞争局)的参数和渲染其决定不听公司或听力可以结束在1月24日的决定从长凳上的结论,”加拿大国家银行分析师上周在一份报告中说。
他们指出,美国也可能吸引最高法院和60天会这样做,但是奥斯本说,他们是否能进展的吸引力取决于听证会的结果。
“如果美国联邦上诉法院否认这件事从长凳上当天的吸引力,他们让离开的可能性最高法院不好,”奥斯本说。
