ROGERS BOARDROOM INTRIGUE BUILDS AS SHARE PRICE FALTERS

A boardroom drama has gripped Rogers Communications Inc., a byproduct of a lagging share price and weaker performance in its wireless unit. Frustration over the company’s performance is “understandable,” BMO Capital Markets analyst Tim Casey said Tuesday. His note followed a report Chairman Edward Rogers tried to force out chief executive Joe Natale. The effort failed when other board members sided with Natale. Rogers’ shares have trailed those of BCE Inc. and Telus Corp. over the past three years. One overhang on the stock is the proposed $26 billion takeover of Shaw Communications Inc., unveiled in March. “It is not debatable that Rogers’ key loading and revenue statistics compare unfavourably to Bell and Telus,” Casey said. The boardroom power struggle adds long-term risk for investors, he added.