Rogers Communications has paid $74.9 million to bump up its stake in rival Cogeco Cable and its parent Cogeco Inc.

Toronto-based Rogers said it went into the market to acquire 892,250 subordinate voting shares of Cogeco Cable at $43.98 each at a cost of $39.2 million, and 946,090 subordinate voting shares of Cogeco Inc. at $37.77 each, at a cost of $35.7 million.

Rogers, in its latest acquisition of Cogeco stock, said it was adding to its stakes for investment purposes and not for taking over the companies.

The latest stock purchases raise Rogers’ stake in Cogeco Cable Inc. to around 32.5% of subordinate voting shares, while the stake in Cogeco Inc. goes to around 39.9% of subordinate voting shares.

Rogers and Cogeco are both controlled by founding families through multiple voting stock.