Québecor subsidiary Vidéotron has completed the acquisition of Freedom Mobile from Shaw under the company’s move to merge with Rogers.
Through Vidéotron and Freedom, Québecor has more than 3.5 million mobile services customers, a press release from the company states.
“The alliance of Freedom and Vidéotron will permanently transform Canada’s wireless market for the benefit of consumers and create a new competitive environment that delivers innovative products and services at better prices,” Pierre Karl Péladeau, president and CEO of Québecor, said.
The move also solidifies a settlement between Vidéotron and Rogers. In October 2021, Vidéotron filed to sue Rogers for $850 million relating to an alleged breach surrounding a network-sharing deal. Vidéotron didn’t provide specifics but did say the two companies are working together to continue with the agreement.
Freedom’s ownership switch has been completed just days after Innovation Minister François-Philippe Champagne approved Rogers’ $26-billion takeover of Shaw. The companies agreed to sell Freedom to Vidéotron in a $2.85 billion agreement.
Champagne granted approval after Québecor agreed to a number of conditions, including providing plan options that are 20 percent cheaper than the main competitors, Bell, Telus, and Rogers.
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Source: Vidéotron
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