Rogers, Shaw reach agreement to sell Freedom to Quebecor in deal valued at $2.85 billion (updated)

TORONTO, CALGARY and MONTREAL – Rogers Communications, Shaw Communications and Quebecor Inc. announced late Friday night they have reached an agreement for the sale of Freedom Mobile to Quebecor in a deal valued at $2.85 billion, subject to regulatory approval. Rogers initiated a process of selling Freedom several months ago, after the Minister of Innovation, Science and Industry François-Philippe Champagne released a statement saying he would not permit Rogers to acquire all of Shaw’s wireless assets. The sale of Freedom to Quebecor “will ensure the presence of a strong and sustainable fourth wireless carrier across Canada,” a press release says....