Rogers Completes Acquisition of AT&T Wireless' 34% Stake in Rogers Wireless
13 Oktober 2004 - 7:09PM
PR Newswire (US)
Rogers Completes Acquisition of AT&T Wireless' 34% Stake in
Rogers Wireless Customers Continue to Enjoy the Powerful Benefits
of Seamless Wireless Voice and Data Roaming Between Canada and the
U.S. on North America's Largest Combined GSM/GPRS Network TORONTO,
Oct. 13 /PRNewswire-FirstCall/ -- Rogers Communications Inc.
("RCI") announced today the completion of its previously announced
purchase, through its wholly-owned subsidiary RWCI Acquisition
Inc., of the 48,594,172 Class B Restricted Voting shares of Rogers
Wireless Communications Inc. ("Rogers Wireless") owned by JVII
General Partnership, a partnership owned by AT&T Wireless
Services, Inc. ("AT&T Wireless"), for a cash price of C$36.37
per share. With the completion of the purchase, RCI beneficially
owns 64,911,816 Class B Restricted Voting shares, representing
approximately 80.9% of the issued and outstanding Class B
Restricted Voting shares, and 62,820,371 Class A Multiple Voting
shares, representing 100% of the issued and outstanding Class A
Multiple Voting shares, combined representing a total ownership
position of approximately 89.3% of the total issued and outstanding
shares of both classes of such shares of Rogers Wireless. RCI
funded the approximate C$1,767 million cash purchase price of the
48.6 million Rogers Wireless shares through a C$1,750 million
secured bridge financing facility of up to two years with a group
of Canadian financial institutions. The Rogers Wireless shares were
acquired by RCI for investment purposes and RCI has no current
intention of acquiring ownership of or control or direction over
any additional shares of Rogers Wireless. RCI may in the future
acquire additional shares of Rogers Wireless in the market,
pursuant to private transactions or otherwise, sell all or some
portion of the shares, of Rogers Wireless it owns, or enter into
derivative or other transactions with respect to its shares of
Rogers Wireless. The sale by AT&T Wireless of its shares of
Rogers Wireless does not impact or change the extensive North
American wireless voice and data roaming capabilities between the
companies. Customers of both Rogers Wireless and AT&T Wireless
will continue to enjoy the powerful benefits of seamless wireless
roaming between Canada and the U.S. on North America's largest
combined GSM/GPRS network. 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 events will be affected by a number
of factors, many of which are beyond our control, and therefore 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 89% owned by Rogers
Communications Inc. DATASOURCE: Rogers Communications Inc. CONTACT:
(Investment Community): Bruce M. Mann, (416) 935-3532, ; Eric
Wright, (416) 935-3550, ; For Further Information (Media): Jan L.
Innes, (416) 935-3525, ; Heather Armstrong,(416) 935-6379, ;
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