Blackstone (BX) Nears $5 Billion Deal for Stake in Rogers Communications (RCI)

Oct 31, 2024

Insiders report that Blackstone (BX) is close to finalizing a deal valued at CAD 7 billion (approximately USD 5 billion) to acquire a minority stake in the wireless infrastructure of Rogers Communications (RCI, Financial). This structural equity transaction is poised to aid Rogers in managing its debt, particularly as it seeks to acquire a 37.5% stake in Maple Leaf Sports & Entertainment Ltd. from BCE Inc.

Rogers' CEO, Tony Staffieri, mentioned the potential sale of a portion of their wireless infrastructure as a strategic move to reduce the company’s debt while maintaining full operational control over its network. He highlighted this transaction as a pioneering deal in Canada with a leading global financial investment firm.

Representatives from both Blackstone and Rogers declined to comment on the matter.

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I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.

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