JUST ANOTHER $1 BILLION TRANSACTION FOR ROGERS
By Adnews Staff
Rogers Communications announced yesterday it has finalized an agreement to sell Rogers Telecom to MetroNet Communications. The cash and stock deal worth approximately $1 billion will see $600 million going to MetroNet in cash as well as 12.5 million class B shares with an estimated closing value of $400 million on June 30, 1998. The cash portion of the deal will go towards debt reduction, president and CEO of RCI, Ted Rogers said. “The benefit for MetroNet comes in acquiring business with extensive facilities in the key business centres of Toronto, Vancouver, Ottawa, London and Kitchener,” he added.
« Back Next »
Comments
blog comments powered by Disqus