Cogeco acquires Toronto Hydro Telecom
Cogeco Cable Inc. will be acquiring all of the shares of Toronto Hydro Telecom (THT), the telecom subsidiary of Toronto Hydro Corp. (subject to certain conditions, including regulatory approval by the Commissioner of Competition) for $200 million. In addition, Cogeco will assume a working capital deficiency and liabilities of about $4 million.
offers datacom and other telecom services such as Ethernet, private
line, VoIP, high-speed Internet access, dark fibre, data storage, data
security and co-location to a range of business customers and
organizations throughout the Greater Toronto Area.
agreement, says Cogeco, will allow it to further the development of its
business telecom activities, bringing “interesting” growth
opportunities. As for Toronto Hydro Corp., its president and CEO, David
O’Brien, says the sale “enhances our ability to invest in the renewal
of our distribution system”.