The head of Québecor is purchasing Taxelco, which owns two major Montreal-area taxi companies, including Téo Taxi, which ceased operations in January. The sale is scheduled to close on May 31. Péladeau wants to relaunch Téo soon after the transaction is completed. (Canadian Press, CBC)

Talking point: Téo Taxi launched in 2016 as a competitor to Uber. It shut down due to the high costs of its business model, which involved paying drivers an hourly wage and owning a fleet of vehicles instead of having drivers bring their own. Perhaps the largest issue for Téo was its inability to increase prices when demand peaked like Uber can, which cut into the company’s margins. Péladeau said there will be changes to how the company operates when it relaunches, but appears to be interested in keeping the environmental mandate. As he put it, he hopes to play a “significant role in the responsible and necessary pursuit of the green and electric migration of taxi transportation services in Montreal.”