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3800 MHz wireless spectrum auction - Quebecor and Videotron invest nearly $300 million to move forward with Canadian expansion
3800 MHz wireless spectrum auction - Quebecor and Videotron invest nearly $300 million to move fo...
About this update from Quebecor Inc. Class A
[{"type":"text","content":"\n \n \n \n 3800 MHz wireless spectrum auction - Quebecor and Videotron invest nearly $300 million to move forward with Canadian expansion\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n MONTRÉAL\n \n ,\n \n \n Nov. 30, 2023\n \n \n /CNW/ - Following through on their commitment to offer Canadian consumers more choice by building out one of the country's most powerful and reliable wireless networks, Quebecor and Videotron have announced a\n \n $299 million\n \n investment to acquire 305 blocks of spectrum in the 3800 MHz band. This major addition to Quebecor's spectrum portfolio, made at the conclusion of Innovation, Science and Economic Development Canada's latest auction, brings its total investment in the 3500 and 3800 MHz bands, both essential for 5G technology, to over\n \n $1.1 billion\n \n .\n \n \n \"This latest investment is perfectly in line with our business plan, which is focused on continuing to offer Canadians better services at better prices,\" said Pierre Karl Péladeau, President and CEO of Quebecor. \"It is further proof that we have not only the will but also the ability to achieve our goals, for the benefit of consumers. Canadians have already seen a significant drop in the price of wireless services, thanks to the healthy competition created by Videotron's acquisition of Freedom Mobile.\"\n \n \n \n Quebecor strengthens its presence outside Québec\n \n \n \n Approximately 61% of the 305 blocks of wireless spectrum acquired by Quebecor are located outside Québec, mainly in southern\n \n Ontario\n \n ,\n \n Alberta\n \n and\n \n British Columbia\n \n . The company plans to continue rolling out its 5G network there and strengthening its presence through its Freedom Mobile subsidiary, acquired in\n \n April 2023\n \n , and its Fizz wireless brand, recently introduced in\n \n Western Canada\n \n .\n \n \n Quebecor also bought spectrum in\n \n Manitoba\n \n , where it now holds a total of 46 blocks in the 600, 3500 and 3800 MHz bands as it prepares to enter that market. In Qu...