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Stock Market & Financial Investment News

News Breaks
June 27, 2014
08:47 EDTSJRShaw Communications upgraded to Hold from Sell at Canaccord
Canaccord upgraded Shaw Communications to Neutral citing improving fundamentals including free cash flow, better than expected subscriber results, and increased guidance. The firm raised its price target on the shares to $26 from $24.
News For SJR From The Last 14 Days
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June 25, 2015
08:07 EDTSJRShaw Communications reports Q3 EPS C$0.42, consensus C$0.49
Reports Q3 revenue C$1.42B, consensus C$1.42B.
June 24, 2015
17:35 EDTSJRShaw Communications confirms Rogers Communications intention to acquire licenses
Shaw Communications (SJR) confirmed that Rogers Communications (RCI) 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 $100M. With the $50M purchase price for the option and $200M down payment, each paid by Rogers to Shaw in 2013, the total proceeds for the sale of Shaw's spectrum would be $350M. The transaction is expected to close by the end of June.
10:11 EDTSJRRogers Communications to buy Mobilicity, acquire spectrum from Shaw
Rogers Communications (RCI) said it will immediately boost speed and quality for wireless customers in BC, Alberta and Southern Ontario as part of a series of transactions, as the company is completing the previously announced acquisition of Shaw's (SJR) AWS-1 spectrum and acquiring 100% ownership of Mobilicity. The company is also divesting, post transaction, certain AWS-1 spectrum to WIND Mobile that is contiguous to their spectrum holdings. As per the previously announced terms to complete the Shaw spectrum acquisition, Rogers will pay C$100M in addition to the down payments made when the agreement was originally announced in January 2013. The transaction with Mobilicity is supported and was facilitated by The Catalyst Capital Group, on behalf of investment funds managed by it, working closely with Rogers on the structuring of the transaction. The C$440M purchase price is offset by tax losses valued at approximately C$175M which Rogers will acquire. The transaction is subject to working capital adjustments. Following the acquisition of spectrum from Shaw and Mobilicity respectively, Rogers and WIND will undertake an AWS-1 spectrum swap in Southern Ontario to create contiguous spectrum for Rogers. Rogers will also divest certain non-contiguous AWS-1 spectrum to WIND Mobile in BC, Alberta, Saskatchewan, Manitoba and Northern Ontario and Eastern Ontario. The purchase of Mobilicity is subject to approval by the Competition Bureau and the Court. The transactions have been approved by Industry Canada.

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