Rogers will acquire Hamilton, ON-based Mountain Cablevision and some wireless spectrum licenses from Shaw Communications in a deal valued at $700 million.

Rogers now has the option to buy spectrum holdings in both 10MHz and 20MH bands, in Alberta, Manitoba, Northern Ontario, British Columbia, and Saskatchewan.

Rogers, with the Advanced Wireless Spectrum (AWS) holdings, plans to upgrade LTE networks and boost its share of the wireless market in Western Canada as mobile Internet services ramp up due to exploding data usage.

Nadir Mohamed, CEO of Rogers Communications, reiterates the merits of the deal: "We’re investing in spectrum to ensure our customers continue to enjoy the incredibly fast speeds and throughput they crave, while ensuring our continued network leadership. We’re also strengthening our Cable portfolio by acquiring a valuable cable business which complements our existing Ontario cable system allowing us to deliver even more value for our customers and shareholders."

Mohamed said the acquisition brought in about 40,000 cable TV customers and included roughly 130 Mountain Cablevision employees.

In the same transaction, Shaw agreed to buy Rogers' 33.3 percent stake in the TVtropolis for $59 million to gain full ownership. Rogers, however, will continue to have access to TVtropolis content for broadcast to all of its cable subscribers.

Pending regulatory approval, the Mountain Cablevision sale and TVtropolis closing will be finalized in first half of 2013.

Industry Canada and the Competition Bureau must also approve Rogers' option to purchase the AWS spectrum from Shaw, with the process likely to be completed by 2014.

Discuss this further in our Shaw Cable forum or the Rogers Cable forum.