Q: A few questions please on Rogers.

Capex:
What direction does 5i see for Capex spending at Rogers over the next say three years? In addition to paying for the remaining 25% of MLSE, will upgrading their cable segment (or some other business need) require large investment and limit debt reduction?

Monetizing their sports assets:
It all sounds great but .... what risks does 5i see to individual Rogers investors, and how serious does 5i feel those risks are, from the controlling Rogers family negotiating a monetization that benefits only them?

Thank you

Edward

Q: Good morning 5i.

I would appreciate 5i's comments on Forward P/E ratios published in major reporting entities like Globe Investor.

Are these based on consensus analyst projections of forward earnings? Do the forward earnings forecasts exclude large non-recurring transactions (that could flip a 'real' 22 Forward P/E projection into a more attractive looking 11?

In summary, what advice would 5i have on the above, and how much should one take an "attractive looking" forward P/E into consideration when thinking about a stock?

Thank you.

Q: If--for diversification purposes, not to mention buying into an unloved investment space--which one of the 4 major Canadian telecom companies (BCE, Quebecor, Rogers, Telus)-- would you be most interested in owning long-term, for >10-year hold? Could you rank them from #1 (top choice) thru #4, and provide a rationale for your ranking?
Ted