Blackstone Close to C$7 Billion Investment Deal with Rogers

Rebecca Teltscher, portfolio manager of Newhaven Asset Management, joins BNN Bloomberg to discuss BCE selling MLSE stake to Rogers for $4.7B.

-- Blackstone Inc. is close to a C$7 billion agreement to buy a minority stake in parts of Rogers Communications Inc.’s wireless infrastructure, according to a person familiar with the matter. The structured-equity transaction will help keep Rogers’ debt load under control as it seeks to buy a 37.5% stake in Maple Leaf Sports & Entertainment Ltd. from BCE Inc.

Tony Staffieri, Rogers’ chief executive officer, said earlier this month that selling a stake in parts of its wireless backhaul infrastructure will help the company pay down debt while retaining full operational control of its network. He described the deal as “first-of-its kind” in Canada, signed with a leading global financial investor.

Representatives of both Blackstone and Rogers declined to comment. The identity of the investor was first reported by the Globe and Mail.

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Wall Street powerhouse Blackstone is mystery bidder for $7-billion Rogers investmentThe pair struck a non-binding deal to sell a portion of its network that connects Rogers’s cell phone towers to its core network
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