Cogeco to buy MetroCast assets for $1.4 bln to expand in the U.S.: Reuters
Canadian cable company Cogeco Communications Inc said its Atlantic Broadband unit would buy MetroCast's assets for about US$1.4 billion, expanding its presence in the United States, Reuters reported. The deal, which includes a US$315 million equity investment by Canadian pension fund Caisse de dépôt et placement du Québec, will add about 120,000 internet and 76,000 video customers to Atlantic Broadband's U.S. base. The deal allows the company "to increase its presence in the growing and lucrative U.S. cable market," Cogeco's Chief Executive Officer Louis Audet said in a statement. In an attempt to find growth outside of Canada, Cogeco first entered the U.S. market in 2012 when it bought Atlantic Broadband for US$1.36 billion.
10 July 2017•2 mins read
