03/01/2016 11:36 EST | Updated 03/01/2016 11:59 EST

Shaw Communications Completes Acquisition Of Wind Mobile

Shaw has officially entered the wireless market.

CALGARY — Shaw Communications Inc. (TSX:SJR.B) has closed its acquisition of struggling wireless carrier Wind Mobile for $1.6 billion.

Shaw now replaces Wind as a competitor to the three national mobile wireless service providers — Bell (TSX:BCE), Rogers (TSX:RCI.B) and Telus (TSX:T) — in urban areas of southern and eastern Ontario, Alberta and British Columbia.

A Wind logo sits above the entrance to a store. (Alessia Pierdomenico/Bloomberg via Getty Images)

The federal Competition Bureau decided on Feb. 4 that it would not challenge the acquisition announced last December, saying it appeared to pose no threat of a substantial lessening or prevention of competition.

The bureau said the two companies did not compete against each other since Shaw does not currently own any wireless assets.

Wind Mobile serves approximately 940,000 subscribers across Ontario, British Columbia and Alberta.

Shaw CEO Brad Shaw said in a statement that customers will eventually see integrated offerings that provide them with the best value for their dollar in quality of coverage and connectivity.

"We are excited about our growth prospects in mobile and welcome the Wind team of 1,200 employees," he said.

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