MONTREAL – Quebecor Media has filed an application to bid as an new entrant in Industry Canada’s spectrum auction for Advanced Wireless Services. Quebecor Media said Thursday it has submitted a deposit of $317 million, in the form of letters of credit, to Industry Canada.
About 40 megahertz of spectrum is expected to go to new entrants in the wireless market.
Quebecor indicated it intended to bid for spectrum across Canada.
“We have always stated clearly that our Videotron subsidiary planned to build its own wireless network to serve the Quebec market. However, exceptionally favourable conditions for new entrants, which may never occur again, persuaded us it is in the interest of our shareholders that we try to extend our deployment across Canada. We will see at the conclusion of the auction if such a deployment is possible,” said Quebecor president and CEO Pierre Karl Peladeau in a statement.
The auction opens on May 27, 2008.
Shaw, a consortium that includes MTS, and Eastlink have also said they will be participating in the auction.
