08:45 AM EDT, 08/19/2024 (MT Newswires) -- Cogeco Inc. ( CGECF ) and its Cogeco Communications Inc. ( CGEAF ) unit on Monday said they have formed strategic partnerships with wireless company Eastlink and an unnamed national wireless network operator to expand its wireless service "under a capital light operating model."

Cogeco ( CGECF ) said it signed a five-year MVNO (mobile virtual network operator) agreement with the national operator to give it access to its national network. It also reached a separate five-year agreement with Atlantic Canada-focused Eastlink to access its network.

Cogeco ( CGECF ) will remain independent of its partners and will offer its customers wireless services in areas it already operates wireline networks and will maintain responsibility for sales, marketing and customer services. It expects to offer further details and timelines for a roll out of services at a later date.

"These commercial agreements will enable us to offer a broader range of bundled offers to better serve our customers, and do so in a capital-efficient manner. Our relentless efforts to provide a fast and reliable wireless service for our customers have culminated in this lean and innovative partnership model," Cogeco ( CGECF ) chief executive Frederic Perron said in a release.

Cogeco ( CGECF ) shares closed down $1.34 to $53.06 Friday on the Toronto Stock Exchange, while Cogeco Communications ( CGEAF ) closed down $1.13 to $63.68.