Cogeco Communications Inc. Subsidiary, Cogeco Connexion, Wins 23 Spectrum Licences
Montréal, May 18, 2018 – Cogeco Communications Inc. (TSX: CCA) (“Cogeco Communications” or the “Company”) is pleased to announce that its Canadian broadband services subsidiary, Cogeco Connexion, is the successful bidder on 23 licences of 2500 MHz and 2300 MHz spectrum, primarily in its Ontario and Québec wireline footprint, in the auction for residual spectrum licences results announced today by Innovation, Science & Economic Development (ISED) Canada, for a total price of C$24.3 million.
“We are very pleased that we were successful in acquiring spectrum licences as part of this auction by ISED,” said Luc Noiseux, Senior Vice President and Chief Technology and Strategy Officer at Cogeco Communications. “As stated in the past, the Company has an interest in entering the mobile market only to the extent that it can operate a profitable business within its financial means. A wireless offering would be complementary to Cogeco Connexion’s current offering to its customers. This is a first positive step in the exploration of our options in the mobile wireless market.”
The spectrum acquisition price is not part of our financial guidance for fiscal 2018 as published in our first quarter results.
Cogeco Communications will not make any further comments on the spectrum auction following the publication of this press release.
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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