MONTRÉAL, July 24, 2017 /CNW
Telbec/ - Quebecor Media Inc. today closed the sale of
spectrum to Shaw Communications Inc., announced on
June 13, 2017. Accordingly, seven 2500 MHz and 700 MHZ
licences held by Videotron outside Québec – in southern
Ontario, Alberta and British
Columbia – have been sold for $430 million in cash.
Videotron obtained regulatory approval from Innovation, Science
and Economic Development Canada and the Competition Bureau. The
asset sale will enable Videotron to continue investing in the
development of its network in Québec and Eastern Ontario.
About Quebecor
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 81.53% 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.
Visit our website: www.quebecor.com
Follow us on Twitter: twitter.com/Quebecor
SOURCE Quebecor