Private equity company Blackstone Inc is bidding C$ 7 billion ($ 5.03 billion) for a minority stake in telecom and media business Rogers Communications’s cellphone framework business, the Globe and Mail reported on Wednesday.
Last week, the Canadian company Rogers introduced the bargain, which would certainly minimize its financial debt concerns, however did not divulge the name of the capitalist.
Under the bargain, Rogers will market a minority equity interest in a part of its wireless backhaul transportation facilities, the firm said previously.
Blackstone did not quickly react to a Reuters ask for a comment and Rogers declined to comment.
Rogers missed its third-quarter income estimates this month as lower-than-expected cordless customers enhancements offset its greater sports-related profits.
($ 1 = 1.3906 Canadian bucks).
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