Rogers Not Buying Shaw, CEO Confirms

6:30 am on August 2, 2007 | Category: Business, Corporate

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Canada’s largest cable operator, Rogers Communications Inc., confirmed on Tuesday that it has no intentions to acquire its smaller western rival, Shaw Communications.

“We do not have any active file on Shaw,” said the company’s CEO, Ted Rogers, during a conference call on Tuesday. “We have not had any discussions with Shaw on putting the companies together.”

These remarks effectively neutralized speculation of such a deal, initiated by a Canaccord Adams analyst in a research note last week. The analyst claimed that Rogers may be on the verge of buying Shaw for up to C$14.4 billion.

Ted Rogers called the speculation “plain irresponsible,” and criticized media outlets for fueling this “completely theoretical diatribe.”

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    Edited by Jeremy Maddock