In its bid to strengthen capacity and coverage – Shaw Communications Inc. is closing the previously announced acquisition of 700 MHz and 2500 MHz wireless spectrum licences from Quebecor Media Inc. for $430 million (the “Transaction”).
The spectrum licences acquired are comprised of 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.
“This is an important incremental step in our evolution as an enhanced connectivity provider. We are excited about improving our wireless capabilities and putting this spectrum to use for the benefit of Canadians,” said Brad Shaw, Chief Executive Officer, Shaw Communications. “The addition of this spectrum enhances our ability to offer higher quality wireless experiences, and choice, to more Canadians.”
The Transaction was funded using a combination of cash on hand and Shaw’s existing credit facility.
Shaw Communications Inc. is an enhanced connectivity provider in Canada. The company serves consumers with broadband Internet, Shaw Go WiFi, video and digital phone. Its Wireless division provides wireless voice and data services through an expanding and improving mobile wireless network infrastructure.
The Business Network Services division provides business customers with Internet, data, WiFi, telephony and video. The Business Infrastructure Services division, through ViaWest, provides hybrid IT solutions including colocation, cloud computing and security and compliance for North American enterprises.