The telecom also said it would keep Cogeco’s management team and the operation of its Quebec media assets in the province. The offer comes after Cogeco’s board declined to sell its Canadian assets to Rogers as part of a $10.3-billion deal. (The Logic)

Talking point: This bid removes one stumbling block for Rogers, since Quebec Premier François Legault said he wanted Cogeco’s headquarters to stay in Quebec. However, larger barriers remain. The Audet family, which controls Cogeco, refused to sell its shares. Independent Cogeco directors also rejected the bid. Rogers and cable firm Altice, which would pick up Cogeco’s U.S. assets under the proposed deal, both said they still wanted to acquire Cogeco. That means the $10.3-billion deal, which included an $800-million premium for the Audet family, could be a “first bid,” according to Desjardins analyst Maher Yaghi.