Competition Bureau’s fight over Rogers deal is costing taxpayers millions in legal fees
have billed more than $30-million for their services. The meter is still running, as the two sides prepare for the bureau’s appeal of last month’s Competition Tribunal decision that came down squarely in the telecom companies’ favour. Taxpayers are likely to pay a significant portion of those fees.
CEOs and institutional investors look at a $20-billion Rogers bid for Shaw that’s coming up on its second birthday and see a transaction that’s now being needlessly blocked. That perception shapes the way capital gets allocated. In a country that needs to invest billions of dollars in essential infrastructure – 5G cellphone networks, the transition to green energy – the bureau’s intransigence is sending the wrong message.
To sum up in a few lines what lawyers devoted five weeks and 2.6 million documents to arguing, Mr. Yaghi pointed out that the bureau needed to prove its allegation that Rogers’s takeover of Shaw, and the sale of Shaw’s Freedom Mobile business to Quebecor, would result in a substantial lessening of competition in the cellphone market. The tribunal said the bureau failed to do this.
The bureau is now running up millions in legal bills, and introducing needless uncertainty in telecom markets, trying to appeal a decision co-written by one of the country’s top experts on competition policy. Prior to joining the tribunal in 2010, Mr. Crampton literally wrote the book on the subject – he is the author of the country’s leading textbook on competition law.
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
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