Shares of Shaw Communications Inc fell on Tuesday after a Federal Court put a stay on the telecom company's C$20 billion merger with Rogers Communications Inc following a request from Canada's Competition Bureau.
antitrust tribunal's decisionAt least two analysts downgraded Shaw Communications' shares after the court's stay order, citing worries that the deal would not close on its slated Jan. 31 date.
"It is uncertain if the appeal will be heard. If it is heard, then the outcome of the Rogers/Shaw transaction could be months away," said David McFadgen, analyst at Cormark Securities.
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