Rogers Wireless Purchases PCS Spectrum for $400M

In the recent Industry Canada spectrum auction, Rogers Wireless Communications Inc. successfully bid for additional PCS spectrum for an aggregate cost of approximately $400 million. In connection with this purchase, Rogers Communications and AT&T Wireless (the principal shareholders of Rogers Wireless) committed to provide funding for an amount equal to the total purchase of the spectrum through short-term unsecured loans. In order to repay such loans, Rogers Wireless commenced a rights offering on March 19, 2001, in which it offered all shareholders rights to purchase its Class B Restricted Voting Shares.

David P. Miller, Vice-President, General Counsel, is acting in-house at Rogers Communications. The Torys team acting for Rogers Wireless and Rogers Communications includes Jim Turner, John McIninch, John Emanoilidis, David Chaikof, Thomas Yeo, Jim Welkoff (tax), Emil Pellicer and John Toffoletto.