Spectrum auction wraps, bringing more than $2.1 billion

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)