OTTAWA – The 700 MHz spectrum auction has ended and Industry Minister James Moore will announce the results late Wednesday.
A statement issued by Industry Canada Tuesday evening invited media to a 30 minute lock-up to be followed by the official announcement by Minister Moore in Ottawa at 5:00 PM ET on Wednesday. Cartt.ca will be there.
Reuters appeared to break the news in a story that quoted unnamed sources who claimed that the “main thrust of the auction had been finished at least a week ago”. Industry Canada said prior to the auction that it would publish the winners, their licence packages and the prices paid five days after the conclusion of the auction.
Reuters’ sources also said that Industry Canada was conducting last-minute checks to verify that the results are legitimate, a necessary step since the auction used a complicated methodology, detailed here by Cartt.ca, in order to avoid collusion or unnatural bidding.
Ten companies participated in the auction, including incumbents Rogers, Bell and Telus, and regional carriers Eastlink, Videotron, SaskTel and MTS. Telecom analysts have speculated that the auction could generate between $1.5 billion and $1.8 billion for the government.
– Lesley Hunter
