Globalive goes straight to Shaw with its $3.75 billion bid for Freedom Mobile

TORONTO – Globalive Capital says it went directly to Shaw Communications Inc. with its $3.75 billion bid for wireless service provider Freedom Mobile due to a lack of commitment from Rogers Communications Inc. .

The sale of Freedom should be a condition of approval for Rogers’ $26 billion purchase of Shaw, as it would maintain competition in Canada’s wireless sector.

Globalive founder Anthony Lacavera says Rogers “froze” his business during the sale process and believes Rogers is ultimately looking to sell Freedom to a company that may not be so competitive in Canada’s telecommunications industry.

Rogers and Shaw did not immediately respond to requests for comment.

Lacavera says his company’s decision was made shortly before Rogers and Shaw extended the deadline for closing their deal, which is now set for July 31.

Globalive has stepped up its efforts to buy Freedom since late last year, even striking a network and spectrum sharing deal with Telus Corp. in May to strengthen its offer for the wireless operator.

This report from The Canadian Press was first published on June 3, 2022.

Companies in this story: (TSX: RCI.B, TSX: SJR.B)


Conversations are the opinions of our readers and are subject to the Code of conduct. The Star does not share these opinions.
Previous Third ex-telecom executive charged with defrauding investors | USAO-SDNY
Next TSDSI signs pacts with 5G Brasil, MTSFB for mutual cooperation in standards development, Telecom News, ET Telecom