Rogers Advances in Acquisition of Bell's Stake in MLSE

Rogers Communications has announced receiving clearance from the Competition Bureau regarding its acquisition of Bell's 37.5% stake in Maple Leaf Sports & Entertainment (MLSE). This milestone was marked by the Bureau's issuance of a 'no-action letter', effectively indicating that the acquisition will not face opposition from Canada's Commissioner of Competition. While this clearance marks significant progress, the deal still requires approval from the relevant sports leagues and the Canadian Radio-television and Telecommunications Commission (CRTC). Tony Staffieri, the CEO and President of Rogers, highlighted the importance of this acquisition in solidifying Rogers' position in the live sports and entertainment sectors, which are central to the company's strategic objectives. Rogers had previously disclosed in September that the total value of the deal stands at approximately C$4.7 billion, a move set to establish Rogers as the majority stakeholder in MLSE.