MONTRÉAL, July 29, 2021 /CNW
Telbec/ - True to its tradition as a Canadian telecom innovation
leader, Quebecor today announced an investment of nearly
$830 million in the acquisition of 294 blocks of spectrum in
the 3500 MHz band across the country. More than half of the
investment is concentrated in four Canadian provinces outside
Québec: southern and eastern Ontario, Manitoba, Alberta and British
Columbia. The strategic investment positions Québec's
flagship carrier to realize its ambition of boosting healthy
competition in telecom beyond the borders of Québec.
"This major investment paves the way for large-scale projects in
Québec and other Canadian provinces in the coming years," says
Pierre Karl Péladeau, President and CEO of Quebecor. "Our success
in Québec has served Quebecers well. Today, we are taking another
step towards bringing leading-edge technology and healthy
competition to more Canadian consumers."
Strong presence since 1964
Videotron has long
been a forerunner in the industry. The Quebecor subsidiary was the
first to offer pick-and-pay television plans, the first to launch a
video streaming service with Club illico, and most recently the
first in Canada to create an
all-digital telecom brand with Fizz. Videotron has
invested billions over decades to create distinctive offerings
and services, and to build out a reliable, powerful, robust
telecommunications network.
"In 2006, we ended the Big 3 oligopoly by offering Quebecers the
services of a new wireless carrier," notes Mr. Péladeau. "With
more than 1.5 million customers for our high-quality wireless
services, we can say this move has been a resounding success! Now
we want to offer other Canadians the opportunity to enjoy the same
quality, price and customer service."
Equipped to succeed
Now that it holds 175 blocks of
spectrum (for an average depth of 32 MHz) in the 3500 MHz band in
four Canadian provinces outside Québec, Quebecor plans to roll out
its mobile telephone service in some urban and rural areas in the
rest of Canada.
Over the past 10 years, Quebecor's Videotron subsidiary has made
its mark in Québec with its expanding mobility offering. As a
result, Quebecers were able to pay 35% to 40% less for wireless
services well before other Canadians. The acquisition of a
significant number of blocks of 3500 MHz spectrum (for an average
depth of 43 MHz) across the province reaffirms Quebecor's
commitment to long-term investment in Québec.
5G roll-out well underway
The acquisition of 3500 MHz
spectrum is crucial for the continued roll-out of 5th generation
mobile technology in Québec and across the country. The 3500 MHz
band will facilitate the introduction of premium 5G mobile
broadband services by significantly reducing latency and, combined
with new radio access technologies, will significantly increase
signal quality. It is another step towards delivering the full 5G
experience with all its benefits.
"5G isn't just the technology of the future, it's the technology
of the present," says Pierre Karl Péladeau. "We must be as
innovative in our investing strategies as we are on the
technological front, and we have been just that in this
auction."
Creating a conducive environment
Earlier this year,
Quebecor indicated its interest in acquiring Shaw's wireless
assets, should they be sold. While the outcome of the Rogers/Shaw
deal will not be known for several months, Mr. Péladeau noted
that federal authorities have a duty to act in the best interest of
Canadian consumers:
"We are now counting on the government to create a favourable
environment to foster and maintain healthy competition. We are
confident that we are the right player, the one with a real ability
to break the oligopoly and put consumers across Canada back in the driver's seat."
If conditions are favourable, Quebecor plans to exercise the
rights arising from recent Canadian Radio-television and
Telecommunications Commission decisions to offer millions of
Canadians competitive services.
For more information, see the fact sheet
Conference call for investors and audio Webcast
A conference call (English only) on Quebecor's acquisition of
blocks of spectrum in the 3500 MHz band in the auction ended on
July 23rd, 2021 will be held on
July 30th, 2021 at 10:00
a.m. (EDT). There will be a question period reserved for
financial analysts. Media will be able to participate in this
conference call in listen-only mode.
To view the presentation to be discussed during the call, please
visit Québecor's website at www.quebecor.com/en/investors
Conference
call :
|
Quebecor's
acquisition of blocks of spectrum in the 3500 MHz band
Friday, July
30th 10:00 a.m. (EDT)
|
Call-in
number :
|
1-833-952-1520
(Canada – É.-U.)
|
Participant
code
|
3689992#
|
Webcast access
link
(audio
only) :
|
https://produceredition.webcasts.com/starthere.jsp?ei=1485416&tp_key=e0b0ff19a9
|
Anyone unable to attend the conference call will be able to
listen to a recording, by calling 1-855-859-2056 (Canada - USA), access code: 3689992. The recording will
be available until September 30th, 2021.
Forward-looking statements
The statements in this
press release that are not historical facts are forward-looking
statements and are subject to significant known and unknown risks,
uncertainties and assumptions that could cause the Corporation's
actual results for future periods to differ materially from those
set forth in the forward-looking statements. Forward-looking
statements may be identified by the use of the conditional or by
forward-looking terminology such as the terms "plans," "expects,"
"may," "anticipates," "intends," "estimates," "projects," "seeks,"
"believes," or similar terms, variations of such terms or the
negative of such terms. Certain factors that may cause actual
results to differ from current expectations include seasonality
(including seasonal fluctuations in customer orders), operating
risk (including fluctuations in demand for Quebecor's products and
pricing actions by competitors), new competition and Quebecor's
ability to retain its current customers and attract new ones, risks
related to fragmentation of the advertising market, insurance risk,
risks associated with capital investments (including risks related
to technological development and equipment availability and
breakdown), environmental risks, risks associated with
cybersecurity and the protection of personal information, risks
associated with service interruptions resulting from equipment
breakdown, network failure, the threat of natural disaster,
epidemics, pandemics or other public health crises, including the
COVID-19 pandemic, political instability is some countries, risks
associated with emergency measures implemented by various
governments, risks associated with labour agreements, credit risk,
financial risks, debt risks, risks related to interest rate
fluctuations, foreign exchange risks, risks associated with
government acts and regulations, risks related to changes in tax
legislation, and changes in the general political and economic
environment. Investors and others are cautioned that the foregoing
list of factors that may affect future results is not exhaustive
and that undue reliance should not be placed on any forward-looking
statements. For more information on the risks, uncertainties and
assumptions that could cause Quebecor's actual results to differ
from current expectations, please refer to Quebecor's public
filings, available at www.sedar.com and www.quebecor.com,
including, in particular, the "Risks and Uncertainties" section of
Quebecor's Management Discussion and Analysis for the year ended
December 31, 2020.
The forward-looking statements in this press release reflect
Quebecor's expectations as of July 29th, 2021, and
are subject to change after that date. Quebecor expressly disclaims
any obligation or intention to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by applicable securities laws.
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.
Québec-based Quebecor (TSX: QBR.A, QBR.B) employs more than
10,000 people in Canada.
A family business founded in 1950, Quebecor is committed to the
community. Every year, it actively supports 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