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Global Markets: Rogers to acquire Shaw for C$26 billion

Rogers to expand 5G and rural, Indigenous Internet

By MarketsFarm

WINNIPEG, March 15 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Rogers Communications announced on Monday that it’s acquiring Shaw Communications for C$26 billion. The deal includes Rogers purchasing shares in Shaw at C$40.50 each, investing C$2.5 billion in 5G network capacity throughout Western Canada, as well as C$1 billion to bring high-speed Internet service to rural and Indigenous communities. Rogers’s acquisition of Shaw is subject to shareholder and regulatory approvals, which are expected during the first half of next year.

– Following the passage of United States President Joe Biden’s US$1.9 trillion economic stimulus package last week, Treasury Secretary Janet Yellen said on Sunday that the country’s risk of inflation was small and manageable. Republicans accused the Biden administration’s plan of being too lavish. Yellen also commented that the U.S. economy could return to full employment sometime in 2022, provided the COVID-19 pandemic was brought under control.

– The U.S. was the world’s top military exporter from 2016 to 2020, according to the Stockholm International Peace Research Institute (Sipri) on Monday. With China and Russia having lost significant ground in the military export trade, the U.S. now controls 37 per cent of the market. Nearly half of U.S. military exports were destined to the Middle East, with a majority of that portion going to Saudi Arabia. Sipri reported that France, Germany, Israel and South Korea also expanded their military exports during the same time period.

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