Shaw stands by Rogers acquisition in Q4 fiscal report

Shaw stands past Rogers conquering in Q4 fiscal report

Despite the pending merger, Shaw added 295,000 new wireless customers in 2021

Shaw Communications used its latest quarterly financial study to reaffirm its support for the company'south pending merger with Rogers.

The argument of faith from the Calgary-based telecom comes at a precarious moment, as Rogers is currently in the eye of a messy and highly publicized leadership struggle.

Meanwhile, the Rogers/Shaw merger — valued at $26 billion — continues to confront intense scrutiny from authorities, competitors, and consumer advocates, many of whom argue that the merger will drastically narrow Canada's telecom marketplace and reduce contest.

In the visitor's Q4 fiscal study, CEO Brad Shaw stated that management at Shaw "reiterate our continued commitment to piece of work with Rogers to close the transaction."

He also went on to say that "it is not appropriate for Shaw to comment on recent events at Rogers."

In the 4th fiscal quarter of 2021, Shaw reported a net income increment of 44 percent to $252 meg.

The report also noted that around 60,500 new wireless customers joined Shaw in Q4, with the company adding roughly 295,000 new wireless customers in the 2021 fiscal twelvemonth.

This brings Shaw's full customer base to more than 2.1 million.

For comparison, in fiscal twelvemonth 2020, Shaw added somewhere over 160,000 new wireless subscribers for a total client base of operations of just over one.8 million.

Shaw's support aside, the acquisition even so needs to be approved by iii different government regulators: the Canadian Radio-tv and Telecommunications Commission (CRTC), the Competition Bureau, and the Department of Innovation, Scientific discipline and Economical Development.

The CRTC'due south public hearing on the Rogers/Shaw deal is scheduled for November 22nd.

Source: Shaw