Shaw family buys 1 million shares of Shaw Communications

Fri Aug 20, 2010 6:30pm EDT
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BANGALORE (Reuters) - Canadian cable and telecom company Shaw Communications Inc said the Shaw family and entities owned or controlled by them bought an additional 1 million class B non-voting shares of the company.

The company said the Shaw family now holds 49.2 million of its class A and class B shares.

The Shaw family will continue to buy shares on a regular basis, Shaw Communications said.

Last week, Canadian regulators gave a go-ahead to Shaw Communications' purchase of Canwest Global Communications Corp's broadcast arm, saying it would not substantially reduce or prevent competition in the sector.

Shares of the Calgary, Alberta-based company, which have gained 12 percent in the past three months, closed at C$21.34 Friday on the Toronto Stock Exchange.

(Reporting by Koustav Samanta in Bangalore; Editing by Unnikrishnan Nair)