News Summary

Quebecor has decided to retain ownership of its cellular towers, diverging from the recent trend where major telecommunications companies like Telus and Rogers have sold large portions of their cell tower infrastructure. CEO Pierre Karl Péladeau emphasized that the company is financially stable and does not need to sell off infrastructure to increase cash flow, a move he described as unnecessary financial engineering. This decision comes after Telus sold nearly half of its cell towers to La Caisse for $1.26 billion, and Rogers sold a stake worth $7 billion to Blackstone-backed Canadian pensions. Quebecor, which owns Videotron and Fizz, reported a slight revenue dip in Q1 but added 52,000 subscribers, underscoring its solid market position.