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InHouse Profile
LEADING ON A
TRANSFORMATIVE
TELECOMS DEAL
MARISA WYSE SPEAKS WITH TIM WILBUR ABOUT
HER CAREER-DEFINING IN-HOUSE ROLE IN
ROGERS' ACQUISITION OF SHAW
ROGERS COMMUNICATIONS'
$26 billion acquisition of Shaw
Communications stands as the largest-ever
transaction in the Canadian telecommu-
nications industry, cementing a landmark
moment for both companies and the coun-
try's regulatory and corporate landscape.
More than just a high-value deal, this trans-
action reshaped the
competitive framework
of Canada's telecom
sector, requiring intri-
cate legal manoeuvring,
prolonged regulatory
battles, and a multi-
faceted divestiture
strategy to secure approval.
For Marisa Wyse, chief legal officer
at Rogers, the acquisition was not just a
financial or strategic move but a test of
persistence, coordination, and legal expertise
at the highest levels. "e deal took two years
between the time of announcement and the
time it actually closed," she says. "It was truly
transformative."
A regulatory marathon
The acquisition faced intense scrutiny
from Canada's Competition Bureau,
which sought to block the deal, alleging
it would reduce competition and lead
to higher consumer prices. "In May of
2022, the Competition Bureau chal-
lenged the transaction," Wyse recalls.
This triggered a lengthy legal battle with
a series of negotiations designed to
address regulatory concerns.
One of the most significant hurdles
was ensuring the transaction would not
result in excessive market concentration. To
satisfy regulators, Rogers and Shaw agreed to
divest Freedom Mobile, a key competitor in
the wireless space, to Quebecor's Videotron.
e divestiture itself was another signif-
icant transaction requiring its own nego-
tiations, legal reviews, and approvals.
Quebecor also had to ensure the
Competition Bureau's concerns were
adequately addressed on the Freedom
Mobile deal.
Wyse says the Rogers team never lost sight of
their goal despite these roadblocks. "We never
wavered from the idea that this deal is going to
get done. It's the right deal for Canadians… it's
pro-competitive. We will get this deal done."
The role of external legal teams
With a deal of this magnitude, assembling
"[IT'S] IMPORTANT TO ME THAT FOLKS
RECOGNIZE THAT I AM PRIVILEGED TO
SIT IN THIS CHAIR, BUT I SURE DON'T
DO IT ALONE"
