Shaw Acquires Wireless Spectrum Licences

Shaw Communications said pre-market Tuesday that it has agreed with Quebecor Media to acquire 700 MHz and 2500 MHz wireless spectrum licences for $430 million.

The spectrum licences being acquired comprise the 10 MHz licences of 700 MHz spectrum in each of British Columbia, Alberta, and Southern Ontario, as well as the 20 MHz licences of 2500 MHz spectrum in each of Vancouver, Edmonton, Calgary, and Toronto. “We believe this incremental investment in our wireless business, particularly with the addition of the 700 MHz spectrum, will materially improve our long-term wireless customer experience, and will further enable our ability to offer converged network solutions,” CEO Brad Shaw said in a statement. The deal will be funded using a combination of cash on hand and Shaw’s existing credit facility, and is expected to close this summer.