Quebecor and Videotron Invest Nearly $300M to Move Forward with Canadian Expansion
December 20, 2023
Quebecor and Videotron have announced a $299 million investment to acquire 305 blocks of spectrum in the 3800 MHz band. This major addition to Quebecor’s spectrum portfolio, made at the conclusion of Innovation, Science and Economic Development Canada’s latest auction, brings its total investment in the 3500 and 3800 MHz bands, both essential for 5G technology, to over $1.1 billion.
Quebecor strengthens its presence outside Québec
Approximately 61% of the 305 blocks of wireless spectrum acquired by Quebecor are located outside Québec, mainly in southern Ontario, Alberta and British Columbia. The company plans to continue rolling out its 5G network there and strengthening its presence through its Freedom Mobile subsidiary, acquired in April 2023, and its Fizz wireless brand, recently introduced in Western Canada.
Quebecor also bought spectrum in Manitoba, where it now holds a total of 46 blocks in the 600, 3500 and 3800 MHz bands as it prepares to enter that market. In Québec, the newly acquired spectrum will support the rollout of Videotron’s 5G network and enable it to continue upgrading its wireless network in all regions, while maintaining service quality and the customer experience.
Investment in the future
The 3500 and 3800 MHz bands are key to 5G wireless technology. Through its massive investments in these frequencies and in its network, now totaling more than $4 billion since 2008, Quebecor continues to increase the capacity of its current facilities while further enhancing the user experience across Canada with increased download speeds and reduced latency.
