Rogers Sells $5 Billion Network Stake to Pension-Backed Blackstone Funds
Tony Staffieri, president and chief executive officer of Rogers Communications Inc.
Photographer: Galit Rodan/BloombergThis article is for subscribers only.
Rogers Communications Inc. agreed to sell a stake in its wireless network to funds managed by Blackstone Inc. in a C$7 billion ($4.9 billion) equity deal backed by four Canadian pensions.
Blackstone leads an investor group that includes Canada Pension Plan Investment Board, Caisse de dépôt et placement du Québec, the Public Sector Pension Investment Board and British Columbia Investment Management Corp., according to a statement from Rogers.