Rogers gains after deal to get full ownership of MLSE

Rogers Communications

06/07/2026 16:06

** Shares of Canadian telecom operator Rogers Communications RCIb.TO gain 2.2% to C$46.08
** Co says will buy remaining 25% ownership stake in sports firm Maple Leaf Sports & Entertainment from Kilmer Sports for C$4.35 bln 
** Maple Leaf controls NHL's Toronto Maple Leafs and NBA's Toronto Raptors
** "We should see a relief rally in RCI.B shares with the Kilmer deal done well in advance of September/October expectations," TD Securities analysts say in a note 
** Co had said in April it expected to purchase the remaining stake in second half of this year
** Co says it will finance transaction with its committed liquidity and expects transaction to close in Q4 2026
** Rogers became majority owner of Maple Leaf in September 2024 when it bought Bell's stake for C$4.7 billion 
** U.S.-listed shares of Rogers also climb 2.5% 
** As of last close, Rogers' Canadian shares down 11% YTD 
     
     

(Reporting by Sudeshna Ghoshal in Bengaluru)
((Sudeshna.Ghoshal@thomsonreuters.com;))