Cogeco now has wireless spectrum in regions
home to 3.6 million Canadians
MONTRÉAL, July 29, 2021 /CNW
Telbec/ - Cogeco Communications Inc. (TSX: CCA) ("Cogeco
Communications" or the "Corporation") is pleased to announce that
it will invest $295 million to
acquire 38 spectrum licences secured in the 3500 MHz band
auction. This investment is another step toward Cogeco
Communications offering mobile wireless services.
"These spectrum investments, together with the recent CRTC
regulatory decision on wireless services and our robust and growing
regional broadband network, position Cogeco to further develop
plans to enter the mobile wireless services market in a financially
disciplined way in all of our core markets in Canada," said Philippe Jetté, President and
Chief Executive Officer of Cogeco Communications. "We remain deeply
interested in offering more choice to consumers for their mobile
services. As we prepare our next steps, the implementation of
reasonable terms and conditions by the CRTC under the new
regulatory framework for wireless services, as well as securing
satisfactory wholesale rates for access to incumbent wireless
networks, will be critical.''
The $295 million Cogeco
Communications will be investing includes $205 million to acquire 30 MHz of spectrum in the
Greater Toronto area, a region
which represents approximately 33% of the Corporation's wireline
broadband footprint in Ontario.
The balance of the investment will cover spectrum in several other
Ontario regions, as well as the
region of Trois-Rivières in Québec.
With these new spectrum holdings and previously acquired
licences, Cogeco Communications now has spectrum that covers 91% of
its Canadian broadband footprint, representing a population of 3.6
million Canadians, many of whom live in rural and underserved
areas.
ABOUT COGECO COMMUNICATIONS
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 along the East Coast of
the United States under the
Atlantic Broadband brand (in 11 states from Maine to Florida). The Corporation provides residential
and business customers with Internet, video and telephony services
through its two-way broadband fibre networks. Cogeco Communications
Inc.'s subordinate voting shares are listed on the Toronto Stock
Exchange (TSX: CCA).
SOURCE Cogeco Communications Inc.