Rogers buys ‘investment only’ stake in Cogeco

Reuters reports that Canadian quad-play operator Rogers Communications is buying CAD163 million (USD155 million) worth of shares in rival cableco Cogeco. Rogers said it planned to buy 3.2 million subordinate voting shares of Cogeco Cable at CAD36.43 a share and 1.6 million shares of parent company Cogeco Inc at CAD28.61 a share. Rogers said the purchases were for investment purposes and it had no current intention to acquire ownership in either the Canadian cableco or its parent, which also controls Portugal’s Cabovisao.