20:31:36 EDT Thu 02 May 2024
Enter Symbol
or Name
USA
CA



Cogeco Inc
Symbol CGO
Shares Issued 14,009,952
Close 2023-12-12 C$ 52.54
Market Cap C$ 736,082,878
Recent Sedar Documents

Globe sees consumer benefits in Rogers-Cogeco deal

2023-12-13 07:46 ET - In the News

See In the News (C-RCI) Rogers Communications Inc

The Globe and Mail reports in its Wednesday edition that three years after abandoning a hostile bid for the Canadian operations of Cogeco and subsidiary Cogeco Communications, Rogers has sold its interests in the pair to Quebec's Caisse pension fund for $829-million. The Globe's Andrew Willis writes that both Rogers and Cogeco trumpet the benefits of divorce, but the real winners in this split are likely to be consumers. Rogers founder Ted Rogers began building a Cogeco stake more than 20 years ago, in hopes of eventually persuading the controlling shareholder, the Audet clan, to sell. Late Monday, when Rogers cut ties with Cogeco, both companies put a positive spin on the deal. This corporate divorce is good news for consumers because it clears the way for an escalation in price wars that Rogers launched in the fall. Rogers, the country's largest wireless provider, is offering its cellphone clients in Quebec an aggressively priced fixed wireless access (FWA) bundle. This technology offers 5G Internet and cable services for homes and businesses at speeds that match fibre networks. In Quebec, Rogers sells its basic FWA service for as little as $35 a month, compared with $40 for a similar package from Bell Canada.

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