We follow high standards of editorial integrity on this website to help you make informed decisions. This article may include links to services and products from our partners. We may receive compensation when you sign up, at no cost to you. It does not change our unbiased reviews, evaluations or advice. Please take a look at our disclosure.

Spectrum auction wraps, bringing more than $2.1 billion

SHARE:

Daily news image from my rate compass
Reading Time: < 1 minute

OTTAWA — The federal government has announced the results of its latest spectrum auction offering telecommunications companies the chance to purchase chunks of mid-band wireless spectrum touted for being able to carry a lot of data over long distances.

Telus Communications Inc. was awarded the most licences in the provisional results, having secured 1,430 licences for nearly $620 million.

Bell Canada was awarded 939 licences for $518 million, followed by Rogers Communications Inc., which says it invested $475 million for 40.5 MHz of 3800 MHz spectrum, spanning 860 licences.

Quebecor Inc.’s Videotron, was has been seeking to solidify itself as a fourth national carrier, spent almost $300 million to secure 305 licences.

A total of 22 companies had qualified to participate in the auction, which was the first held since 2021.

The federal government said the 3800 MHz auction marked a key milestone in its plan to make spectrum available for 5G services and rural connectivity. It says it awarded 4,099 licences through the auction, bringing in a total of more than $2.1 billion.

This report by The Canadian Press was first published Nov. 30, 2023.

Companies in this story: (TSX:BCE, TSX:QBR.B, TSX:RCI.B, TSX:T)

Author Bio

User
The Canadian Press

The Canadian Press is Canada’s independent national news agency that informs Canadians, providing depth, breadth and perspective with regional, national and international news 24/7/365.

Offers

Credit Card Deals

Tangerine World Mastercard® Review
Apply for a Tangerine World Mastercard® by April 30, 2024 and earn an extra 10% back* (up to $100)
Ends Apr 30, 2024
Tangerine Money-Back Credit Card Review
Apply for a Tangerine Money-Back Credit Card by April 30, 2024 and earn an extra 10% back (up to $100)
Ends Apr 30, 2024
Simplii Financial™ Cash Back Visa* Card Review
For your first 4 months, enjoy 10% bonus cash back‡ at restaurants and bars up to $500 spend. Get 4% cash back after that.
Ends Feb 29, 2024
Neo Card Review
Get $25 cash back when you sign up for the Neo Credit Mastercard.
Neo CardTM (Secured) Review
$25 welcome bonus for new cardholders