Rogers to raise money through new subsidiary carrying parts of wireless backhaul

By Ahmad Hathout Rogers said Thursday it has entered into an agreement to sell to a “leading global financial investor” a minority equity stake in a newly formed subsidiary that will include parts of its wireless traffic transport network from one region of the country. The minority stakeholder will get paid periodic distributions based on the net income made by that subsidiary. Wholesale fees to use the network will maintain it, while consumer use of the network, which Rogers CFO Glenn Brandt said is in the range of 40 to 50 per cent growth per year, will ensure distribution stability....