Vince Valentini: Just maybe clarify on that last point. And then another question is when you’re talking about market share gains, Tony. I mean clearly 18,000 internet ads compared to what we saw from Bell and TELUS doesn’t look like on an absolute basis. You’re gaining market share there, but are you talking more holistically about wireless subs in a bundle as well as standalone internet when about market share?
Tony Staffieri: Yes, two things Vince. Thanks for the opportunity to clarify. One is we do talk about it in terms of a bundle, and the other is given the differing size of footprint, we look at what we’re doing with respect to penetration rates of homes past. And so, what we see is contrary to prior quarters where we had a decline in penetration rates, we’re starting to see those penetration rates start to improve. So that’s how we think about it.
Vince Valentini: Okay. And the other question I have was just on the non-core asset sales the last quarter I think, or maybe it was the conferences in September, you were seemed reasonably confident there could be some announcements before the end of this calendar year. We’re mid-November almost. So just wondering if there’s any update on that. You’re still confident on that front, Glenn?
Glenn Brandt: Thanks Vince. Yes, we’re still working through a process on a few different exercises and still confident on the timeframe of hopefully having announcements in year and closing again, still looking to close if not in year this year, certainly first half of next year for a number of those.
Vince Valentini: But obviously when you say 4.8 times target for the end of the year for leverage, you’re not factoring in any of those assets.
Tony Staffieri: That’s correct. It’s — that is just straight from the synergy and organic growth we have in the business and the use of free cash flow.
Vince Valentini: Thank you.
Tony Staffieri: Thank you, Vince.
Paul Carpino: Next question, Ariel.
Operator: Our next question comes from David Barden of Bank of America Merrill Lynch. Please go ahead.
David Barden: Hi, guys. Thanks for taking my question. So well done on the loadings this quarter. If one were to critique it, one might say that, some of the pricing actions that you took during the quarter impacted your ability to take share and if one extrapolated from that, one might imagine that pricing in the industry is a little less stable than people would hope, and that in reaction to your very strong loadings in the quarter, it is an inevitability that other competitors are going to have to come back with their own pricing actions. And I was wondering if you could kind of extrapolate a little bit or elaborate a little bit on that dynamic in the Canadian market? And then second, if you could share with us what you think the impact and the import of the new CRTC interim regulations on wholesale pricing for broadband are for Rogers and in the industry generally? Thank you.
Tony Staffieri: Thanks, David. Two parts. So, on the first part of the question with respect to pricing, I am not sure I follow the logic and the that you are looking at. Just to put in perspective, we have been clear in terms of our strategy of focusing our brands and brand evolution on the Rogers brand. And so, what you saw us do earlier in the year is expand the Rogers value propositions to include capped plans, not unlike you see in the U.S, all focused on the Rogers 5G brand. And our competitors, decided to expand their value offering in the flanker brands, different strategy. And, we will follow our strategy and it seems to hunt well in the marketplace. I think we talked about it on the last call. But for clarity, the intent of introducing CAPT plans at the $55 entry point was clearly intended to provide a path for customers on flanker 4G to upgrade to the 5G experience, with a nominal increase in price and ARPU.
And so, what you saw is actually, in our opinion, a value creation for the segment and you see that for us, in the organic ARPU side of growth that we have and so albeit it mild, it nonetheless is on the positive side of the growth when you look at the ARPU ledger. And so, we are pleased with that. So, our sense is that, the strategy is working not only for Rogers. But frankly, for the industry, here in Canada. So, we are pleased with the trending that we see on that. And as we look to Q4, and we are about midway through now, we continue to see, again, positive momentum in terms of attracting customers that coming in year-on-year higher in terms of ARPU and when you look at the combination of our targeted approach across the brands, and the various, what I would call, value segments, that ladders up nicely to a good and solid ARPU trajectory.
And of course, that’s all wrapped together in the revenue growth that you see translated to a very good flow-through rate, significant flow-through rate, and strong and strong margin expansion and performance. Hopefully, that provides the color around that. The second part of your question relates to the recent CRTC decision. Not a lot to say on that, I would say a couple of things. One, it’s good to see that it levels the playing field. We’ve been required to wholesale under the regulatory regime, high-speed internet for quite some time. And so, it’s good to see a level playing field. And two, when we look at the rates that have applied, they’re not that different than the rates, the wholesale rates that we’ve had for our network over the last little while.
And we continue to improve our performance in that regulatory regime and figuring out the right value proposition to perform. And as I said, in response to the earlier question stabilize and start to improve our market share performance.
Operator: Our next question comes from Maher Yaghi of Scotiabank. Please go ahead.
Maher Yaghi: Great. Thank you, for taking my question. Good job on the quarter. Congratulations. Looks very strong. I wanted to ask you if you can, maybe just for housekeeping help us understand what was the organic revenue growth and EBITDA growth for both wireless and cable? That would help a lot. Now on the synergy is definitely tracking above and faster than expected. Can I ask you may be, how are you handling the organizational shift? As you said you had a lot of employment, employee changes restructurings departmental changes. How are you making sure that the path and the momentum that you have in the marketplace can continue with these significant changes happening inside the organization? And maybe just one last point on the west.
