95
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 30 Aug 2023
95 points (93.6% liked)
Canada
7224 readers
390 users here now
What's going on Canada?
Communities
๐ Meta
๐บ๏ธ Provinces / Territories
- Alberta
- British Columbia
- Manitoba
- New Brunswick
- Newfoundland and Labrador
- Northwest Territories
- Nova Scotia
- Nunavut
- Ontario
- Prince Edward Island
- Quebec
- Saskatchewan
- Yukon
๐๏ธ Cities / Local Communities
- Calgary (AB)
- Edmonton (AB)
- Greater Sudbury (ON)
- Halifax (NS)
- Hamilton (ON)
- Kootenays (BC)
- London (ON)
- Mississauga (ON)
- Montreal (QC)
- Nanaimo (BC)
- Oceanside (BC)
- Ottawa (ON)
- Port Alberni (BC)
- Regina (SK)
- Saskatoon (SK)
- Thunder Bay (ON)
- Toronto (ON)
- Vancouver (BC)
- Vancouver Island (BC)
- Victoria (BC)
- Waterloo (ON)
- Winnipeg (MB)
๐ Sports
Hockey
- List of All Teams: Post on /c/hockey
- General Community: /c/Hockey
- Calgary Flames
- Edmonton Oilers
- Montrรฉal Canadiens
- Ottawa Senators
- Toronto Maple Leafs
- Vancouver Canucks
- Winnipeg Jets
Football (NFL)
- List of All Teams:
unknown
Football (CFL)
- List of All Teams:
unknown
Baseball
- List of All Teams:
unknown - Toronto Blue Jays
Basketball
- List of All Teams:
unknown - Toronto Raptors
Soccer
- List of All Teams:
unknown - General Community: /c/CanadaSoccer
- Toronto FC
๐ป Universities
๐ต Finance / Shopping
- Personal Finance Canada
- BAPCSalesCanada
- Canadian Investor
- Buy Canadian
- Quebec Finance
- Churning Canada
๐ฃ๏ธ Politics
- Canada Politics
- General:
- By Province:
๐ Social and Culture
Rules
Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage:
founded 4 years ago
MODERATORS
This is the best summary I could come up with:
Aug 29 (Reuters) - Canada's merger court asked the competition bureau to pay about C$13 million ($9.58 million) to Rogers Communications (RCIb.TO) and Shaw Communications for the lengthy court battle after its failed attempt to block the telecom firms' C$20-billion merger.
The Competition Tribunal, Canada's merger court, in a ruling dated Aug. 28 said the Commissioner of Competition Matthew Boswell's approach to block the deal was "unreasonable".
The companies maintained that Boswell "adopted an unnecessarily contentious approach throughout the litigation, which significantly increased the costs that they were required to incur," the tribunal said.
The Rogers-Shaw merger had faced intense opposition from Canada's antitrust regulator whose efforts to block it were rejected by the Competition Tribunal and a Canadian court.
The bureau's biggest concern was the deal would lessen competition in a country where wireless bills are already among the highest in the world.
In March, Canada approved Rogers' buyout of Shaw Communications after securing binding commitments to pay financial penalties if it failed to create new jobs and invest to expand its network.
The original article contains 179 words, the summary contains 174 words. Saved 3%. I'm a bot and I'm open source!
Please go look for the financial penalties. They are a joke compared to the money being thrown around. Antitrust is a joke. Everybody and their dog knew this shouldn't be allowed, and knew that it would be regardless.
This whole thing is very alarming.
Why shouldn't it have been allowed? I don't personally care. But Shaw sucked and if it brings the offers the east gets out west all the better for the users. The one less competertior is bull shit because they already had an agreement to not compete with each other. Besides cell service I being in the west could never get Rogers service so I had one choice of cable provider Shaw now I have Rogers what have Iost as a consumer? The choice of one cable provider all that has happened is the name changed.
I've had service from both Rogers and Shaw. By and have Rogers was muuuuuuuch worse, so I can't really see things getting better for those in the west with this deal
Things should be moving in the other direction. The entire point of antitrust is to prevent things from getting to where they already are. None of the telecoms should be growing in power or consolidating at this point, and there was no good reason to allow it. There is already a disgusting overreach of power, and antitrust should be actively making changes to increase competition and set guardrails. Rogers should also not be gaining after they downed important services over the entire country for a whole day.
Notably, the restrictions and promises made to allow the deal were an absolute joke, and the citizens come out last here. There was no reason to allow the insulting deal that was allowed.
This 26 billion dollar deal is supposed to come with billions of dollars in required efforts. The punishment for failure is a fine that is... A fraction of what those efforts cost. 1/26 of what was spent on the deal paid over ten years.
The amount of money given to these companies is already absurd.
And now we are paying Rogers ten million for necessary due diligence? The power dynamic is beyond broken.