- Quebecor (QBR.A) and Videotron have invested nearly $10 million into new spectrum acquisitions
- These include 600 MHz spectrum in Manitoba and 3500 MHz spectrum in Quebec
- The purchases are in preparation for a major expansion across Canada following the potential acquisition of Freedom Mobile
- Quebecor is a Canadian leader in culture, entertainment, news media and telecommunications
- Quebecor (QBR.A) closed up by 0.62 per cent, trading at $32.36 per share
Quebecor (QBR.A) and Videotron have invested nearly $10 million into new spectrum acquisitions.
These include 600 MHz spectrum in Manitoba and 3500 MHz spectrum in Quebec.
The purchases are in preparation for a major expansion across Canada following the potential acquisition of Freedom Mobile.
Videotron’s expansion in Manitoba paves the way to establish its wireless infrastructure outside of Quebec.
Videotron’s competitive pricing has reduced the cost of mobile plans in Quebec by 35-40 per cent compared to the rest of Canada. Quebecor’s wireless growth strategy involves the replication of this success in other provinces.
The bids for the residual spectrum licenses have been tentatively accepted by Innovation, Science and Economic Development Canada.
“We have a clear objective: to bring healthy competition to the Canadian wireless market by breaking the oligopoly,” stated Pierre Karl Péladeau, President and CEO of Quebecor. “Buying additional spectrum to follow up on the potential acquisition of Freedom Mobile is a key element of our business plan for extending our robust, powerful wireless network outside Quebec and offering Canadian consumers better services at better prices, as we have been doing in Quebec for more than 15 years.”
Videotron is an integrated communications company and a wholly owned subsidiary of Quebecor.
Quebecor is a Canadian leader in culture, entertainment, news media and telecommunications.
Quebecor (QBR.A) closed up by 0.62 per cent, trading at $32.36 per share.