Mergers and Acquistions News
Categories: Telecoms
August 24th 2010, 15:57PM
Canadian telecommunications firm Shaw Communications Inc has announced that the Shaw family, and groups owned or operated by them, has acquired a further 1 million class B non-voting shares of the company.
The Alberta firm said the Shaw family now hold 49.2 million class A and B shares of the firm, and will continue its practice of purchasing shares on a regular basis.
Earlier this month Canada's financial regulator the Competition Bureau approved Shaw's 100 per cent acquisition of Canwest Global Communications Corporation's speciality television businesses, saying that the deal would not significantly affect market competition.
Serving over 3.4 million customers, including 1.8 million internet subscribers and over one million digital phone users over an extensive 625,000 kilometres fibre optic network, Shaw Communications' core business is broadband cable TV, high-speed internet and digital phones.
This afternoon the firm's shares stood at C$21.31 (£13.02) on the Toronto Stock Exchange, down from C$21.41 (£13.08).
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