Rogers, Shaw sign agreement to sell Freedom Mobile to Quebecor

Rogers Communications Inc and Shaw Communications Inc have finalised an agreement to sell Freedom Mobile to Videotron, a unit of Quebecor Inc, the companies said on Friday, paving the way for a merger of Canada’s biggest telecom companies.

Canada’s antitrust agency blocked Rogers’ C$20 billion acquisition of Shaw in May saying it would lessen competition in the country’s concentrated telecoms market, where customers pay among the highest bills.

“This agreement with Quebecor brings us one step closer to completing our merger with Shaw,” Rogers Chief Executive Tony Staffieri said.