Shaw Closes Acquisition of Wireless Spectrum Licenses from Quebecor
Last month, Quebecor announced it had sold seven wireless spectrum licenses to Shaw for $430 million, and this morning the latter confirmed the deal has officially closed.
Shaw has acquired 10 MHz licenses of 700 MHz spectrum in B.C., Alberta and Southern Ontario, while 20 MHz licenses of 2500 MHz spectrum for Vancouver, Edmonton, Calgary and Toronto were also part of the deal.
“This is an important incremental step in our evolution as an enhanced connectivity provider. We are excited about improving our wireless capabilities and putting this spectrum to use for the benefit of Canadians,” said Brad Shaw, Chief Executive Officer, Shaw Communications, in a statement issued to iPhone in Canada. “The addition of this spectrum enhances our ability to offer higher quality wireless experiences, and choice, to more Canadians.”
Videotron said in a statement the deal received regulatory approval from Innovation, Science and Economic Development Canada and the Competition Bureau. Meanwhile, the transaction “will enable Videotron to continue investing in the development of its network in Québec and Eastern Ontario.”
The added spectrum will allow Shaw’s Freedom Mobile (formerly WIND Mobile) to expand its wireless network footprint, which has been known to have spotty coverage outside of major urban centres it operates in. Shaw partly funded the acquisition with cash from its recent sale of subsidiary ViaWest, which sold for $1.675 billion US to Peak 10.