02:31 PM EDT, 10/31/2024 (MT Newswires) -- Blackstone (BX) nearing a 7 billion Canadian dollar ($5.03 billion) deal for a minority stake in Rogers Communications ( RCIAF ) wireless infrastructure business, Bloomberg reported Thursday, citing a person familiar with the matter.

The deal, which takes the form of a structured-equity transaction, will help Rogers manage its debt load while it seeks to acquire BCE's (BCE) 37.5% stake in Maple Leaf Sports and Entertainment, according to the report.

Neither Blackstone nor Rogers immediately responded to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 168.47, Change: -3.07, Percent Change: -1.79