By Michael Dabaie

 

Cogeco Communications Inc. said its subsidiary Cogeco Connexion agreed to purchase DERYtelecom, a cable provider in Quebec, for C$405 million.

DERYtelecom is based in Saguenay, Quebec, and offers internet, television and telephony services to about 100,000 customers in over 200 municipalities.

DERYtelecom revenue and adjusted earnings before interest, taxes, depreciation, and amortization for the fiscal year ended August 31 are estimated at C$105 million and C$44 million, respectively, Cogeco said.

Cogeco Communications and parent Cogeco Inc. Tuesday said their boards unanimously rejected an revised unsolicited, non-binding proposal from Altice USA Inc. and Rogers Communications Inc.

 

Write to Michael Dabaie at michael.dabaie@wsj.com

 

(END) Dow Jones Newswires

October 21, 2020 09:47 ET (13:47 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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