MONTRÉAL, Jan. 26,
2023 /CNW Telbec/ - As they prepare for a major
expansion across Canada following
the potential acquisition of Freedom Mobile, Quebecor and Videotron
have made another investment of nearly $10
million to acquire 600 MHz spectrum in Manitoba and 3500 MHz spectrum in Québec,
again demonstrating their determination to deliver on their promise
to build out a reliable wireless network for the benefit of
Canadian consumers.
The acquisition was made in the auction of residual spectrum
licenses that concluded yesterday with the announcement by
Innovation, Science and Economic Development Canada of the
tentatively accepted bids. Videotron is thus increasing its
wireless service capacity and continuing to pave the way for the
potential expansion of its wireless infrastructure outside Québec.
In 2021, Videotron acquired 294 blocks of 3500 MHz spectrum in
Ontario, Manitoba, Alberta, British
Columbia and Quebec at a
cost of $830 million.
"We have a clear objective: to bring healthy competition to the
Canadian wireless market by breaking the oligopoly," said Pierre
Karl Péladeau, President and CEO of Quebecor. "Buying additional
spectrum to follow up on the potential acquisition of Freedom
Mobile is a key element of our business plan for extending our
robust, powerful wireless network outside Quebec and offering Canadian consumers better
services at better prices, as we have been doing in Quebec for more than 15 years."
As a result of Videotron's competitive pricing, Québec was the
first part of the country to see lower wireless prices; Videotron
reduced the cost of mobile plans in Québec to 35-40% less than
elsewhere in Canada. Quebecor now
wants to replicate this success in other provinces by becoming the
fourth major wireless service provider.
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
the possibility that the sale of Freedom to Videotron (the "Freedom
Transaction") or the Rogers-Shaw merger will not be completed in
the expected timeframe or at all, the inability to realize the
anticipated benefits of the Freedom transaction and the Rogers-Shaw
merger in the expected time frame or at all, 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,
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, 2021.
The forward-looking statements in this press release reflect
Quebecor's expectations as of January 26th,
2023, 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 nearly 10,000
people in Canada.
A family business founded in 1950, Quebecor is strongly
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 Québecor Média inc.