Rogers Will Buy Shaw Spectrum, Cable Unit for C$700 Million

Rogers Communications Inc., Canada’s largest mobile-phone company, agreed to buy wireless spectrum and a local cable business from Shaw Communications Inc. for C$700 million ($712 million).

Rogers will buy Shaw’s Mountain Cablevision Ltd. unit based in Hamilton, Ontario, the companies said yesterday in a joint statement. In return, Calgary-based Shaw will acquire Rogers’s one-third interest in the TVtropolis network, the companies said.