News Summary

Rogers Communications Inc. has confirmed the sale of a minority stake in its wireless network to Blackstone Inc. in a $7 billion equity deal, backed by major Canadian pension funds including the Canada Pension Plan Investment Board, Caisse de dépôt et placement du Québec, the Public Sector Pension Investment Board, and British Columbia Investment Management Corp. Under the terms of the agreement, Blackstone will hold a 49.9% equity interest with a 20% voting interest, while Rogers retains a 50.1% equity interest and 80% voting interest, ensuring full operational control. The transaction aims to strengthen Rogers’ financial position by reducing its debt from the Shaw Communications acquisition. The deal is expected to close in the second quarter of 2025.