Rogers Communications (RCI) is considering offering a stake in its sports and entertainment business to private investors or via an initial public offering, Bloomberg News reported Friday, citing an interview with Chief Executive Officer Tony Staffieri.
Rogers plans to acquire the remaining 25% of Maple Leaf Sports & Entertainment to merge it with other sports and entertainment assets, bringing the total value of the holdings to more than 20 billion Canadian dollars ($14.3 billion), and parties from "all over" made inquiries about investing, Staffieri said, according to the report.
The process may be completed in 12 to 18 months, the report said.
Rogers didn't respond immediately to a request for comment from MT Newswires.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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