REDMOND, Wash.-AT&T Wireless Services Inc. said it has completed the sale of its 34-percent interest in Canadian wireless operator Rogers Wireless Communications Inc. to Rogers Communications Inc. for $1.35 billion. The sale included 48.6 million class B restricted voting shares for a cash price of about $29.28 per share.
The sale is not expected to impact current voice and data roaming capabilities between the two carriers. The deal also cleared a hurdle in AWS’ pending acquisition by Cingular Wireless L.L.C. as well as Rogers Wireless’ attempt to purchase Canadian rival Microcell Telecommunications Inc.
RCI noted it funded the purchase through a secured bridge financing facility of up to two years with a group of Canadian financial institutions, and it now owns 89.3 percent of the total issued and outstanding shares of Rogers Wireless.
