Shares in this article
One is not interested in selling shares, it said a message from Gestion Audem on Monday night. Gestion Audem is a private holding company that owns 69 percent of the voting rights in Cogeco and 83 percent of the voting rights in Cogeco Communications.
Altice USA A had screwed up its offer on Sunday and put an offer for 11.1 billion Canadian dollars (7.18 billion euros) on the table. Altice USA had previously agreed to pay 10.3 billion Canadian dollars.
However, Altice does not plan to keep the entire business. After the takeover, the company wants to pass on the Cogeco business in the USA to Rogers Communications and only keep the US division – namely the cable operator Atlantic Broadband.
With the acquisition, Altice would continue to expand its cable business and expand its offering to more than 1.1 million additional households and businesses in the US.
The Cogeco share is temporarily in Toronto by 0.90 percent to 84 dollars, while the Altice share is listed with minus 0.59 percent at 84.26 dollars.
NEW YORK (dpa-AFX)
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