Business

Rogers Wireless fetches Fido

Rogers Wireless wins control of Microcell as shareholders tender to takeover offer

Enough Microcell Telecommunications shareholders have tendered to the takeover offer from Rogers Wireless to allow Rogers to claim victory Monday.

The successful $1.4 billion takeover means that Rogers Wireless will become Canada's biggest wireless carrier with 5.5 million customers.

Rogers said 96 per cent of Microcell's Class A Restricted Voting shares, 92 per cent of its outstanding Class B non-voting shares, 82 per cent of the outstanding 2005 warrants and 81 per cent of the 2008 warrants had been tendered to its offer.

Canadian securities law now allows Rogers to acquire the remainder of the shares and warrants not tendered at its original offering price.

"The new Rogers Wireless is an even stronger communications company, well positioned for continued profitable growth and committed to providing superior service and value to our customers," said Rogers WIreless CEO Nadir Mohamed in a release.

Microcell provided wireless service to 1.2 million customers under the Fido brand name.

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