MONTRÉAL, June 21, 2018 (GLOBE NEWSWIRE) — Cogeco Communications Inc. (TSX:CCA) (“Cogeco Communications” or the “Company”) is pleased to announce that it has acquired ten spectrum licences in the 2500 MHz paired spectrum band from Kian Telecom, for C$8 million. The transfer was approved by Innovation, Science & Economic Development (ISED) Canada on June 21. The licenses cover a population of over 1.5 million in non-metropolitan areas of Ontario.
“This acquisition marks another step in a disciplined approach to providing wireless services to our customers,” stated Luc Noiseux, Senior Vice President Strategy and Chief Technology Officer (CTO) at Cogeco Communications. “These holdings offer a nice addition to those recently won in our footprint from ISED’s residual auction. We are also pleased to have Amir Bigloo, President of Kian Telecom, joining us as advisor to the office of the CTO.”
“I look forward to assisting Cogeco Communications in bringing more competition to Canada’s mobile wireless market,” added Mr. Bigloo.
The spectrum acquisition price is not part of our financial guidance for fiscal 2018 as published in our first quarter results.
ABOUT COGECO COMMUNICATIONS INC.
Cogeco Communications Inc. is a communications corporation. It is the 8th largest cable operator in North America, operating in Canada under the Cogeco Connexion name in Québec and Ontario, and in the United States under the Atlantic Broadband name in 11 states along the East Coast, from Maine to Florida. Cogeco Communications Inc. provides its residential and business customers with Internet, video and telephony services through its two-way broadband fibre networks. Through its subsidiary Cogeco Peer 1, Cogeco Communications Inc. provides its business customers with a suite of information technology services (colocation, network connectivity, hosting, cloud and managed services), through its 16 data centres, extensive FastFiber Network® and more than 50 points of presence in North America and Europe. Cogeco Communications Inc.’s subordinate voting shares are listed on the Toronto Stock Exchange (TSX:CCA).
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