BUSINESS

Telus the big buyer at Industry Canada's latest auction of wireless spectrum

05/12/2015 09:15 EDT | Updated 05/12/2016 05:59 EDT
OTTAWA - Industry Canada says an auction of wireless spectrum used for smartphones and other mobile devices has generated $755.4 million in revenue, with more than half of it acquired by Telus Corp. (TSX:T).

Telus (TSX:T) is paying $478.82 million for spectrum licences in every province and territory.

Quebecor's Videotron (TSX:QBR.B) was the second-biggest buyer, paying $186.95 million for licences in its Quebec home market as well as Ontario, Alberta and British Columbia.

The rest of the 2500 megahertz spectrum on auction was purchased by a variety of big and small companies including Xplornet, which is buying licences in nine provinces for $25.43 million.

As expected, BCE's Bell (TSX:BCE) and Rogers (TSX:RCI.B) were less active in this auction than Telus due to their previous acquisitions of spectrum for use in their national wireless networks.