ROGERS SET TO PAY $150 MILLION IN CREDITS

Jul 27, 2022

By Angus Gillespie

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Rogers Communications expects to spend about $150 million on customer credits as restitution due to a massive online outage earlier this month.

The telecom giant also admits it has work to do in terms of building back customer trust, after thousands of Canadian businesses and individuals were left without online access for the better part of an entire day.

Rogers CEO Tony Staffieri said the company’s performance reflects “the incredible hard work by our wireless, cable, and media teams as we continue to recover from the impacts of the pandemic” in a statement accompanying the earnings disclosure, which showed a sizable upswing.

Despite concerns about a lack of competition in the telco sector, the $26 billion deal that would see Rogers acquire Shaw Communications still seems to be on track. Approvals have been grated from the CRTC, but a green light still must be given from the Competition Bureau and Innovation, Science and Economic Development Canada.

Meanwhile, Rogers has extended the purchase deadline of Shaw to December 31, from the original July 31 date.

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