Rogers and AT&T Wireless Negotiate Possible Sale of AT&T Wireless' 34% Stake in Rogers Wireless to Rogers Communications
13 September 2004 - 4:27PM
PR Newswire (US)
Rogers and AT&T Wireless Negotiate Possible Sale of AT&T
Wireless' 34% Stake in Rogers Wireless to Rogers Communications
TORONTO, Sept. 13 /PRNewswire-FirstCall/ -- Rogers Communications
Inc. ("RCI") and Rogers Wireless Communications Inc. ("Rogers
Wireless") announced this morning that RCI and AT&T Wireless
Services, Inc. ("AWE") on behalf of JVII General Partnership
("JVII") have reached agreement in principle for the sale by JVII
of its 48.6 million shares of Rogers Wireless to RCI for a cash
purchase price of $36.37 per share. The parties are working toward
obtaining board and other approvals and anticipate an announcement
regarding an agreement later today. There can be no assurances that
such agreement will be finalized or that such transaction will be
completed. Cautionary Statement Regarding Forward Looking
Information: This news release includes certain forward looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 that involve risks and uncertainties. We caution
that actual future performance will be affected by a number of
factors, including technological change, regulatory change and
competitive factors, many of which are beyond our control.
Therefore, future events and results may vary substantially from
what we currently foresee. We are under no obligation to (and
expressly disclaim any such obligation to) update or alter any
forward looking statements whether as a result of new information,
future events or otherwise. Important additional information
identifying risks and uncertainties is contained in our most recent
Annual Reports and Annual Information Forms filed with the
applicable Canadian securities regulatory authorities and the U.S.
Securities and Exchange Commission. About the Companies: Rogers
Communications Inc. (TSX: RCI.A and RCI.B; NYSE: RG) is a
diversified Canadian communications and media company, which is
engaged in cable television, high-speed Internet access and video
retailing through Canada's largest cable television provider Rogers
Cable Inc.; wireless voice and data communications services through
Canada's leading national GSM/GPRS cellular provider Rogers
Wireless Communications Inc.; and radio, television broadcasting,
televised shopping and publishing businesses through Rogers Media
Inc. Rogers Wireless Communications Inc. (TSX: RCM.B; NYSE: RCN)
operates Canada's largest integrated wireless voice and data
network, providing advanced voice and wireless data solutions to
customers from coast to coast on its GSM/GPRS network, the world
standard for wireless communications technology. The Company has
approximately 4.1 million customers, and has offices in Canadian
cities across the country. Rogers Wireless Communications Inc. is
approximately 55.6% owned by Rogers Communications Inc. and 34%
owned by AT&T Wireless Services, Inc. DATASOURCE: Rogers
Communications Inc. CONTACT: Bruce M. Mann, (416) 935-3532, ; Eric
Wright, (416) 935-3550, ; Archived images on this organization are
available through CNW E-Pix at http://www.newswire.ca/. Images are
free to members of The Canadian Press.
Copyright