December 17, 2015 / 11:05 AM / 2 years ago

PRESS DIGEST- Canada - Dec 17

Dec 17 (Reuters) - The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.

THE GLOBE AND MAIL

** Shaw Communications Inc is finally poised to enter the wireless business, with a C$1.6-billion deal to buy Toronto startup carrier Wind Mobile Corp. Calgary-based cable operator Shaw announced the transaction on Wednesday evening, noting that while the deal still requires approval from the federal government and the Competition Bureau, it is expected to close during the third quarter of fiscal 2016. (bit.ly/1Zdf5fp)

** Canadian Pacific Railway Ltd will seek a merger with another railway if Norfolk Southern Corp shareholders don't push the company to discuss a merger, warns Bill Ackman, a CP board member. CP made the second revision to its offer on Wednesday for the Virginia-based railway.(bit.ly/1m9zsvo)

** An advisory committee struck by University of Toronto president Meric Gertler has recommended that the country's largest university should divest its investments from fossil fuel companies that "blatantly disregard" the international effort to combat climate change. (bit.ly/1QOzg0e)

NATIONAL POST

** Valeant Pharmaceuticals International Inc's chief executive presented investors on Wednesday with a company that is cutting earnings and sales forecasts, abandoning price increases, focusing on paying down debt and promoting its research and development spending. (bit.ly/1Ykci6T)

** The continued oil price rout has caused ratings agency Moody's Investors Service to review the credit of seven Canadian oil and gas companies, possibly downgrading their debt. The companies with debts placed under review for downgrade on Wednesday include some of the largest energy players in Calgary: Suncor Energy Inc, Husky Energy Inc, Canadian Natural Resources Ltd and Encana Corp. (bit.ly/1UDpGNX)

Compiled by Mansi goenka in Bengaluru

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