Quebecor, Rogers and Shaw Issue Statement on Arbitration with Competition Commission for Canadian Business Journal

MONTREAL, TORONTO, CALGARY, ALBERTA, OCTOBER 27, 2022 (GLOBE NEWSWIRE) — Today Quebecole, Rogers Communications and Shaw Communications joined an arbitration session as part of the competition court process.

“Arbitration did not result in a negotiated settlement. We are disappointed with the outcome and believe that litigation is unnecessary and detrimental to competition. is unduly delayed in reducing wireless prices for Canadian consumers.

We remain committed to completing this series of pro-competitive transactions, and we are committed to the strengths and merits of our litigation in competition court, including the many benefits these transactions will bring to Canadians. I am confident.

Once completed, the proposed set of transactions will positively transform the Canadian telecommunications industry in both wireline and wireless segments. The combined Videotron and Freedom business has everything it needs to compete as a strong 4th operator in the long term, including significant 5G spectrum. Quebecole’s commitment to lower wireless rates for Canadians nationwide is one of the many benefits the proposed deal will create.

At the same time, the combined Shaw-Rogers wireline business will have a national network positioned to compete with carriers in the long term.

These deals provide world-leading, affordable telecommunications that Canadian consumers need and deserve now and in the future. “

Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of applicable securities laws. This includes, but is not limited to, statements regarding the expected benefits and effects of his sale of Freedom Mobile Inc. (“Freedom”) to Videotron Ltd. Quebecole’s subsidiary (the “Freedom Transaction”), and the merger of Shaw and Rogers announced on March 15, 2021 (the “Rogers-Shaw Transaction”), have an expected impact on the competitiveness of the Freedom and Rogers-Shaw Transactions. impact on Canada’s telecommunications industry and wireless and wireline market conditions, and Quebec’s ability to emerge as Canada’s fourth largest domestic wireless competitor. Forward-looking information may, from time to time, use words such as “will,” “anticipate,” “believe,” “expect,” “intend,” or similar words implying future events or performance. May be identified by representation.

All forward-looking information is inherently subject to change and uncertainty, and actual results may differ materially from those expressed or implied by the forward-looking information. Note that there is A number of risks, uncertainties and other factors could cause actual results or events to differ materially from those expressed or implied by any forward-looking information or the current objectives of Rogers, Shaw or Quebecor. , strategies, and intentions may change. Such risks, uncertainties and other factors include, among other things, the possibility that the Freedom or Rogers-Shaw Transactions may not be completed within the projected timeframes or not be completed at all. failure to obtain required regulatory approvals and clearances in connection with the Freedom or Rogers-Shaw transactions within the expected timeframe or at all; the possibility that the parties may not be able to reach a settlement with the Competition Commission or the Minister for Innovation, Science and Industry with respect to the Freedom Transaction or the Rogers Shaw Transaction; the outcome and timing of any pending or potential litigation or regulatory proceedings related to the Rogers-Shaw or Freedom transactions; This includes proceedings initiated by Competition Commission members in the Competition Court on May 9, 2022 to block the Rogers-Shaw deal. Appeals against decisions by competition courts. failure to realize the expected gains of the Freedom and Rogers-Shaw transactions in the expected time or at all; general economic, business, and political conditions; Accordingly, investors are cautioned to exercise caution when considering statements that contain forward-looking information and do not rely on statements such as those that create legal rights as to Rogers’, Shaw’s or Quebecor’s future results or plans. Be warned that doing so is unreasonable. No forward-looking information can be guaranteed to materialize, and you are cautioned not to place undue reliance on this forward-looking information. The forward-looking information contained in this news release represents expectations as of the date of this news release and is subject to change after that date. A comprehensive discussion of other risks affecting each of Rogers, Shaw and Quebecole is also contained in our public reports and filings.

Forward-looking information is provided here for the purpose of providing information regarding the Freedom and Rogers-Shaw transactions, their expected timing and expected benefits. Readers are cautioned that such information may not be suitable for other purposes. The closing of the Freedom and Rogers-Shaw transactions is subject to certain closing conditions, termination rights and other risks and uncertainties, including, but not limited to, regulatory approvals and clearances. that such closing conditions are met, that such regulatory approvals and clearances are obtained, that either the Freedom Transaction or the Rogers-Shaw Transaction occurs, or that any of these conditions are set forth herein; to occur or have been previously announced. The Freedom Deal and Rogers-Shaw Deal are subject to change, restructuring, or termination. There can be no assurance that one or both of the Freedom and Rogers-Shaw transactions will be accepted by regulatory authorities or will be completed to permit the other to be completed. There is also no assurance that the parties will further extend the closing date for the Rogers and Shaw deal. Occur. Finally, there is no guarantee that the expected profit of either the Freedom or Rogers-Shaw trade will be achieved within the expected time frame, or at all.

All forward-looking statements are made in accordance with the “safe harbor” provisions of applicable Canadian and US securities laws. Neither Rogers, Shaw nor Quebecor undertakes any obligation to update or change any statements, including forward-looking information, factors or assumptions underlying them (each of Rogers, Shaw and Quebecor does not expressly disclaims any liability). new information, future events or otherwise, except as required by law. All forward-looking information contained in this news release is qualified by the cautionary statements contained herein.

About Quebecole
A Canadian leader in telecommunications, entertainment, news media and culture, Quebecor is one of the industry’s highest performing integrated communications companies. Driven by a determination to provide the best possible customer experience, all Quebecole subsidiaries and brands are differentiated by high-quality, multi-platform, integrated products and services.

Based in Quebec, Quebecole (TSX: QBR.A, QBR.B) employs approximately 10,000 people in Canada.

Founded in 1950, family-owned Quebecole is committed to community. Each year he actively supports over 400 organizations in the key areas of culture, health, education, environment and entrepreneurship.

About Rogers Communications
Rogers is a leading Canadian technology and media company that provides communications services and entertainment to consumers and businesses. Rogers shares are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and RCI.B) and the New York Stock Exchange (NYSE: RCI). For more information, please visit www.rogers.com or http://investors.rogers.com.

About Shaw Communications
Shaw is Canada’s leading connectivity company. The Wireline Division consists of Consumer Services and Business Services. Consumer provides broadband internet, Shaw Go WiFi, video and digital telephony to consumers. Business provides internet, data, WiFi, digital phone, and video services to corporate customers. The Wireless division provides wireless voice and LTE data services. Shaw is traded on the Toronto and New York Stock Exchanges and is included in the S&P/TSX 60 Index (Symbols: TSX – SJR.B, NYSE – SJR, and TSXV – SJR.A). For more information, please visit www.shaw.ca.

For more information:

Quebecor Inc. Media Contacts
[email protected]

Quebecor Inc. Investor Contact
Hugues Simard, Chief Financial Officer
[email protected]

Rogers Communications Inc. Media Contact
1-844-226-1338
[email protected]

Rogers Communications Inc. Investment Community Contacts
Paul Carpino
647-435-6470
[email protected]

Shaw Communications Inc. Media Contact
Chethan Lakshman, Vice President of Foreign Affairs
403-930-8448
[email protected]

Shaw Communications Inc. Investment Community Contacts
[email protected]

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