AT&T; Wireless to Boost Stake in Rogers Wireless
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AT&T; Wireless Group is boosting its interest in Rogers Wireless Communications Inc. by buying British Telecommunications’ 15% stake for $380 million.
The transaction gives AT&T; Wireless about 34% of the Toronto-based company, up from 19%, the U.S. mobile phone company said. AT&T; Wireless and British Telecom previously held the 34% stake through a partnership.
AT&T; Wireless, based in Redmond, Wash., wants to strengthen its relationship with North American partners such as Rogers as it prepares to become independent of parent AT&T; Corp. on Monday.
On the New York Stock Exchange, AT&T; Wireless rose 14 cents to $17.06, AT&T; fell 57 cents to $22.31, Rogers Wireless fell 4 cents to $17.76, and British Telecom’s American depositary receipts fell 80 cents to $67.
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