(RTTNews) -  Rogers Communications Inc. (RCI: News ,RCI_A.TO: News ,RCI_B.TO: News ) said on Thursday that it has entered into agreements to buy 3.2 million subordinate voting shares of Cogeco Cable Inc. (CCA.TO: News ) at a cash purchase price, excluding commissions, of $36.43 per share, for aggregate consideration of $116.6 million.

In addition, Rogers Communications entered into agreements to buy 1.62 million subordinate voting shares of Cogeco Inc. (CGO.TO: News ) at a cash purchase price, excluding commissions, of $28.61, for aggregate consideration of $46.4 million.
Rogers is acquiring the Cogeco shares and the Cogeco Cable shares for investment purposes. Rogers has no current intention of acquiring ownership of or control or direction over any additional Cogeco or Cogeco Cable shares but reserves the right to acquire additional shares of Cogeco or Cogeco Cable, to sell all or any portion of its holding of such shares or to enter into derivative or other transactions with respect to the shares owned by it.

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by RTT Staff Writer

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