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.
SOURCE Rogers Communications Inc.
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