3500 MHz spectrum auction raises $8.9B (updated)

OTTAWA – Innovation, Science and Economic Development Canada announced today the provisional results of the 3500 MHz auction, which earned a total of $8.91 billion. The auction began in June and concluded July 23. Winning bidders have until August 13 to submit 20% of their final payment and until October 4 to submit the remaining 80%. The money will be paid into the Consolidated Revenue Fund administered by the Receiver General of Canada, according to an ISED press release. In total, 15 Canadian companies were awarded 1,495 licences, 757 of which went to small and regional players. “Results of the...