MONTREAL, June 9, 2017 /CNW Telbec/ - Quebecor announced today the sale of Videotron's Advanced Wireless Services (AWS-1) spectrum licence in the Greater Toronto region to Rogers Communications Canada Inc. for approximately $184 million, pursuant to the transfer option held by Videotron since 2013.
The transaction has been approved by the competent regulatory authorities. It is expected to close in the coming days.
Videotron moves forward with its network investment program
This transaction will notably assist in funding Videotron's ongoing network investment plans in Quebec and Eastern Ontario. These plans include an aggressive 4G network expansion and densification, anticipated 5G network deployment and upgrades to the company's Internet Protocol (IP) wireline network. These investments will contribute to further enhance competition in wireless and wireline services in Quebec and Eastern Ontario.
Quebecor, a Canadian leader in telecommunications, entertainment, news media and culture, is one of the best-performing integrated communications companies in the industry. Driven by their determination to deliver the best possible customer experience, all of Quebecor's subsidiaries and brands are differentiated by their high-quality, multiplatform, convergent products and services.
Quebecor (TSX: QBR.A, QBR.B) is headquartered in Québec. It holds an 81.07% interest in Quebecor Media, which employs more than 10,000 people in Canada.
A family business founded in 1950, Quebecor is strongly committed to the community. Every year, it actively supports people working with more than 400 organizations in the vital fields of culture, health, education, the environment and entrepreneurship.
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For further information: Martin Tremblay, Vice President, Public Affairs, Quebecor, 514-380-1985, firstname.lastname@example.org; Jean-Francois Pruneau, Senior Vice President and Chief Financial Officer, Quebecor, 514-380-4144, Jean-Francois.Pruneau@quebecor.com