05:01 PM EST, 12/13/2024 (MT Newswires) -- Rogers Communications (RCI-B.TO, RCI) after trade Friday said it received approval from the Competition Bureau to move forward with acquiring BCE's (BCE..TO) 37.5% stake in Maple Leaf Sports & Entertainment (MLSE), which owns the Toronto Maple Leafs hockey club, the Toronto Blue Jays baseball team and the Toronto Raptors basketball franchise.

The Bureau issued a "no-action letter" on Thursday, confirming it will not challenge the acquisition. The deal still requires approvals from Canadian Radio-television and Telecommunications Commission and the sports leagues, the company said.

In September, Rogers announced the C$4.7 billion deal to become the majority owner of MLSE.