Wireless Again Steals the Show for Rogers in Q4, as Results Stay Strong Ahead of Expected Shaw Deal

As was the case throughout 2022, Rogers’ wireless business sizzled in the fourth quarter and drove excellent consolidated financial performance. Cable revenue and subscriber additions remained lackluster, but the dynamics in the segment should change significantly if Rogers gets final approval to add Shaw’s wireline business, which we expect to happen shortly. We’re raising our fair value estimate for Rogers to CAD 73 from CAD 70, with our current assumption remaining that the Shaw addition will be value neutral.