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Cogeco Cable Inc.: Sale of Cabovisao-Televisao por Cabo S.A. to European Group ALTICE(February 29, 2012)
MONTREAL, QUEBEC -- (Marketwire) -- 02/29/12 -- Cogeco Cable Inc. (TSX:CCA) today announced the sale of its Portuguese subsidiary, Cabovisao - Televisao por Cabo, S.A. (Cabovisao), to the European Group, ALTICE. The transaction closed today. The agreed sale price of EUR45 million, which may be subject to adjustments for certain contingent claims, was received on closing. Note that Cogeco Cable wrote off completely its net investment in Cabovisao in the third quarter of 2011.
ABOUT COGECO CABLE
Cogeco Cable (www.cogeco.ca) is a telecommunications corporation and is the second largest hybrid fibre coaxial cable system operator in Ontario and Quebec. Through its two-way broadband cable networks, Cogeco Cable provides its residential customers with Audio, Analogue and Digital Television, as well as High Speed Internet (HSI) and Telephony services. Cogeco Cable also provides, to its commercial customers, through its subsidiary Cogeco Data Services, data networking, e-business applications, video conferencing, hosting services, Ethernet, private line, VoIP, HSI access, data storage, data security, co-location services, managed IT services, cloud services and other advanced communication solutions. Cogeco Cable's subordinate voting shares are listed on the Toronto Stock Exchange (TSX:CCA). Contacts:
Director, Corporate Communications
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