Canada regulator gets court orders to investigate Shaw's C $20 B takeover

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Canada regulator gets court orders to investigate Shaw's C $20 B takeover

The Canadian regulator looking into telecom company Shaw Communications' C $20 billion deal with Rogers Communications has obtained court orders to advance its review, the Competition Bureau said on Thursday.

Shaw agreed to buy Rogers in March in a deal that would create Canada's second-largest telecom operator.

The Canadian government is quick to say it would attract stiff regulatory scrutiny, including an investigation by the Competition Bureau and a parliamentary hearing.

The orders obtained earlier this week will allow the bureau to compel companies including BCE Inc, TELUS Corp and Quebecor Inc-owned Videotron to produce records relevant to the investigation, a statement from the bureau said.

It is not clear how long the investigation will take, the statement said.

Rogers and Shaw declined to comment on the move.

Rogers shares were flat, while Shaw shares were up 0.8%, while the benchmark Canadian share index was up 0.4%.