News Summary

NDP Leader Jagmeet Singh has called on the federal government to block a significant investment deal involving Rogers Communications and Blackstone, a U.S. investment firm led by Stephen Schwarzman, an ally of former President Donald Trump. The deal, valued at $7 billion, would see Blackstone and major Canadian pension funds, such as the Canada Pension Plan Investment Board and Caisse de dépôt et placement du Québec, acquiring a 49.9% stake in a new Rogers-owned company responsible for wireless infrastructure. Singh expressed concerns about the national security implications and the potential influence of a Trump ally in Canada’s telecom infrastructure. The transaction, which allows Rogers to address debt from its $26 billion acquisition of Shaw, is subject to regulatory approval and expected to conclude by mid-2025.