AT&T Wireless retains Rogers Wireless stake - for now

21 Jul 2004

US mobile operator AT&T Wireless still owns a 34% interest in Canada’s Rogers Wireless after letting its 60-day option to sell the stake expire on 18 July. If AT&T Wireless wishes to attempt the sale again it will have to restart the disposition process from scratch. Under a 1999 agreement between AT&T Wireless and Rogers Wireless Communications Inc (RCI), the parent company of Rogers Wireless, RCI had first refusal on the shares and was apparently interested in acquiring them to boost its ownership of Rogers Wireless to around 90%. In May this year it offered USD1.5 billion or USD31 per share for its partner’s stake in the Toronto-based company but had the offer rejected. The remaining 10% of Rogers Wireless is held by public investors.