Rogers Communications To Exercise Option To Acquire Shaw's Spectrum Licenses

(RTTNews) - Shaw Communications Inc. (SJR, SJR_B.TO) confirmed that Rogers Communications Inc. announced its intention to exercise its option to acquire Shaw's spectrum licenses for advanced wireless service in British Columbia, Alberta, Saskatchewan, Manitoba and Northern Ontario. Rogers acquired the option as one of a number of transactions announced on January 14, 2013.

On exercise of the option, Rogers would pay Shaw $100 million. With the $50 million purchase price for the option and $200 million down payment, each paid by Rogers to Shaw in 2013, the total proceeds for the sale of Shaw's spectrum would be $350 million.