The purchase adds about 100,000 customers in over 200 Quebec municipalities for Cogeco. The deal is subject to regulatory approval; Cogeco expects it to close by February 2021. (The Logic)

Talking point: The acquisition comes one day after Cogeco firm rejected an $11.1-billion takeover offer from Rogers and U.S. firm Altice. Cogeco believes it can save $3 million annually, partially due to the larger scale Derytelecom will give it. Cogeco has acquired five companies over the past five years, and said last month it was looking to pick up more in the U.S., despite the bid from Rogers and Altice. Rogers, for its part, offered to invest $3 billion in Quebec if the takeover went through, to which Cogeco said, “Rogers may continue making all the investments it wishes in Quebec but it doesn’t need Cogeco to do so.”