Canada's industry minister signaled on Monday he is unhappy with Shaw Communications Inc's plans to sell wireless spectrum to rival Rogers Communications Inc, a move that would add heft to Rogers, already one of three dominant players in the market.In 2008, Shaw, based in Western Canada, bought some of the spectrum the Conservative government had set aside for new entrants in the mobile telephony market as part of a plan to encourage more competition for the big three: Rogers, BCE Inc's Bell Canada and Telus Corp."The intent of the policy was not to have this set-aside spectrum to end (up) in the hands of incumbents," Industry Minister Christian Paradis told reporters on a conference call when asked about Shaw's plans.Consumer and advocacy groups want Paradis to block the sale.
Rogers Communications Inc. (RCI) is a diversified public Canadian communications and media company. Shares of RCI fell by 0.08% or $-0.04/share to $51.01. In the past year, the shares have traded as low as $33.58 and as high as $50.24. On average, 330677 shares of RCI exchange hands on a given day and today's volume is recorded at 77233.
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