February 27, 2019 / 3:33 PM / 9 months ago

BUZZ-Cogeco Communications: Up on deal to sell cloud services unit

** Canadian broadband services provider’s shares up 7.7 pct at C$80.86

** Co to sell cloud services unit Cogeco Peer 1 to investment firm Digital Colony in deal valued at C$720 mln ($547 mln)

** Says will use large portion of proceeds to repay debt and repurchase certain subordinate voting shares

** Including gains, stock up 21.6 percent so far this year ($1 = C$1.32) (Reporting by Debroop Roy in Bengaluru)

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