Cogeco Cable Seeks European Acquisitions

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1:45 am on December 13, 2005 | Category: Business, Telecom Services

Cogeco Cable Inc. became Canada’s fourth largest cable company through a long series of acquisitions in the late 1990’s, and have more recently begun to set their sights on Europe.

“The growth opportunities, the acquisition opportunities, in Canada are now very limited … and this company has grown through acquisitions,” said CEO, Louis Audet last week, on his way to the company’s annual meeting. “Europe has come up as an area where (more acquisitions) are entirely possible.”

Cogeco hit hard times back in 2001, due to increased competition from satellite TV services, as well as a string of financial losses. Now, however, the company has gotten back on its feet, and has been generating cash flow from its cable business, which primarily services Quebec and Ontario. They have also recently launched digital phone (VoIP) and video-on-demand services, in hopes of increased future growth.

So far, Cogeco has been quite conservative with its European acquisition strategy, and Audet admits that they haven’t yet found the right deal. He does give assurances, however, that they are still patiently looking, and ready to pounce on the right acquisition, when and if it does come along.