Cogeco (TSX:CCA) To Buy Quebec’s Derytelecom For $405mn

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Cogeco (TSX:CCA) To Buy Quebec’s Derytelecom For $405mn

  • Through this acquisition, Cogeco Communications expects to add about 100,000 cable and internet customers in Quebec, as per media reports.
  • With this transaction, its estimated about $3 million in operational savings and $40million of tax benefits will be achieved.
  • This news comes as a twist in the ongoing developments as Cogeco Communications and Cogeco Inc have rejected takeover attempts by Altice and Rogers Communications last week.
  • The transaction will close by February 2021.

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