MONTREAL,
June 13, 2017 /CNW Telbec/ -
Quebecor Media Inc. ("Quebecor") today announced the sale of
seven 2500 MHz and 700 MHz wireless spectrum licences
outside Quebec, held
by Videotron, to Shaw Communications Inc. ("Shaw") for a
consideration of $430 million. The
sale includes three 700 MHz licences covering southern Ontario and the entirety of the provinces of
Alberta and British Columbia, and four 2500 MHz licences
covering the major urban centres in those provinces, namely
Toronto, Edmonton, Calgary and Vancouver.
The transaction is subject to required approvals from
regulatory authorities, including the Competition Bureau and
Innovation, Science and Economic Development Canada.
The asset sale will enable Videotron to continue investing
in the development of its network in Quebec and Eastern
Ontario. Videotron is planning a substantial
expansion and densification of its 4G network, the roll-out
of its 5G network and the upgrading of its Internet Protocol (IP)
wireline network. Those expenditures will serve to support robust
competition in the wireless and wireline markets in Quebec and Eastern
Ontario. In fact, since Videotron launched its
mobile telephony service, competitive forces have strengthened
considerably in all markets where the company is present. This
has resulted in substantial price decreases for
consumers.
About Quebecor
Quebecor, a Canadian
leader in telecommunications, entertainment, news media and
culture, is one of the best-performing integrated communications
companies in the industry. Driven by their determination to deliver
the best possible customer experience, all of Quebecor's
subsidiaries and brands are differentiated by their high-quality,
multiplatform, convergent products and services.
Quebecor (TSX: QBR.A, QBR.B) is headquartered in Québec.
It holds an 81.07% interest in Quebecor Media, which employs more
than 10,000 people in Canada. A
family business founded in 1950, Quebecor is strongly committed to
the community. Every year, it actively supports people working with
more than 400 organizations in the vital fields of culture, health,
education, the environment and entrepreneurship.
Visit our website:
www.quebecor.com
Follow us on Twitter:
twitter.com/Quebecor
SOURCE Quebecor