Quebecor selling Toronto-area AWS-1 spectrum licence to Rogers for $184 million

MONTREAL – Quebecor’s Videotron unit is selling its advanced wireless services spectrum licence in the Greater Toronto Area to Rogers Communications (TSX:RCI.B) for about $184 million.

The Montreal-based cable and telecommunications company will use money from the sale to upgrade and expand its high-speed wireless network in Quebec and eastern Ontario.

Quebecor Inc. (TSX:QBR.B) says it has regulatory approval for the deal to sell the spectrum which can be used to provide wireless services and the transaction is expected to close within days.

David Watt, senior vice-president for regulatory matters at Rogers, said in an emailed statement that the additional spectrum will give the Toronto-based company more capacity to stream mobile video to its customers.