Rogers Wireless’ takeover bid approved by Microcell shareholders

9 Nov 2004

Shareholders in Microcell Telecommunications have approved a CAD1.4 billion (USD1.17 billion) takeover bid by Rogers Wireless, creating Canada’s largest mobile operator. Under the merger Rogers will add Microcell’s 1.28 million users to its existing 4.02 million-strong subscriber base to leapfrog BCE’s Bell Canada unit as the country’s number one wireless carrier. Owners of 28.4 million, or 92%, of Class B shares, and 181,721, or 96%, of Class A shares agreed to the CAD35-per share offer.

Canada, Fido, Rogers Communications