TORONTO-AT&T Wireless Services Inc. neglected to sell its 34-percent stake in Rogers Wireless Communications Inc. by Sunday night’s deadline.
AWS earlier declined to accept a $1.15 billion bid from the Canadian wireless company’s parent Rogers Communications Inc. for the stake. Rogers Communications retains rights of first negotiation for the shares if the sale process is restarted under the terms of the original shareholders’ agreement dated 1999.
AWS acquired its stake in Rogers Wireless in 2001 when it was spun off from AT&T Corp., which with British Telecommunications plc bought the shares in 1999 for $934 million.
