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-0.000875273522975911 -0.000437636761488033 0.000875273522975911 0.00350109409190365 0.0056892778993435 0.000437636761487878 -0.0056892778993435 0.00481400437636759
Stock impact report

Rogers sells $5B network stake to pension-backed Blackstone Funds [BNN Bloomberg (Canada)]

BCE, Inc. (BCE) 
Last bce, inc. earnings: 2/6 07:00 am Check Earnings Report
US:NYSE Investor Relations: bce.ca/investors/investoroverview
Company Research Source: BNN Bloomberg
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. The investment in a “minor” portion of Rogers' wireless backhaul transport infrastructure will be treated as equity without affecting the firm's credit ratings, the statement said. Blackstone will hold a 49.9 per cent equity interest in a new subsidiary that owns that portion, and Rogers will maintain operational control of its wireless network. The deal is expected to close in the second quarter of this year and the proceeds will be used to repay debt. “With this significant investment, we are Read more
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