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Cogeco Cable Acquires Toronto Hydro Telecom

Posted on June 17, 2008

TD Newcrest analyst Vince Valentini is warning against a knee-jerk reaction to Cogeco Cable Inc.'s (CGEAF.PK) C$200-million acquisition of Toronto Hydro Telecom [THT] on Friday. In a note to clients Monday, Mr. Valentini acknowledges the purchase could be viewed as dilutive to Cogeco shares and that it is a departure from the company's strategy of buying telcos in cities where it already operates. However, Mr. Valentini understands that Toronto Hydro has won some new contracts in the past year - such as with the Toronto District School Board - that may not be fully reflected in earnings estim...

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analyst , earnings , hydro , wifi