Cogeco Remains Tight-Lipped on Canadian Wireless Launch
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Loading... - Willie Morgan
- 17 Jul 2024
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Cogeco Inc., the Montreal-based telecommunications company, is hinting at a potential launch of mobile services in Canada, following the introduction of wireless coverage in the U.S. under the Breezeline Mobile brand last quarter. However, details about the Canadian rollout remain undisclosed as the company continues to negotiate access agreements with other network operators.
President and CEO Frédéric Perron revealed during the company’s third-quarter earnings call on Friday that Cogeco intends to bundle wireless services with its existing wireline products. This strategy aims to enhance customer retention by offering comprehensive service packages. Perron emphasized the importance of negotiating favorable access agreements to ensure a smooth and competitive entry into the Canadian wireless market.
Cogeco reported a profit attributable to shareholders of $19.0 million for the third quarter, a significant turnaround from a loss of $34.5 million in the same period last year. Revenue also saw a modest increase, rising to $777.2 million from $767.6 million during the same quarter in the previous year.
The growth in Cogeco’s Canadian telecommunications business has been largely driven by the continued expansion of its internet subscriber base. This ongoing growth underscores the company’s strategic focus on enhancing its telecommunications services and expanding its market presence.
While Cogeco remains mum on the specifics of its Canadian wireless launch, the company’s recent financial performance and strategic plans suggest a robust approach to entering the mobile market. By negotiating access agreements and bundling services, Cogeco aims to increase customer retention and solidify its position in the Canadian telecommunications landscape. As negotiations continue, industry analysts and consumers alike will be watching closely for further announcements.
