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Gold/Mining/Energy : ROGERS CANTEL RUMOURED AS TAKEOVER CANDIDATE (RCI.B TSE)
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To: Northern Cougar who wrote (11)2/7/1999 10:14:00 PM
From: David Harrison   of 22
 
To all you excited speculators, there are tremendous regulatory obstacles to any non-Canadian entity taking over Rogers or Rogers Cantel. There are specific foreign ownership restrictions - in the 30% range - plus approvals requires by the CRTC ( Canadian version of the FCC). In addition there are ownership rules enforced by Investment Canada.

Local analysts would tie Rogers' big run-up to the comparison with the ATT/Time Warner deal and the fact that ATT Canada is without a Canadian owner at the moment. Canadian banks held the majority ownership until last month when their shares were put into a trust. The time limit on the banks allowable ownership ran out.

Rogers could become a potential partner in ATT Canada. They controlled the company - Unitel - which assumed the ATT Canada branding.
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