Rogers Communications (TSX:RCI.A, NYSE:RCI) announced an investment of C$1.7 billion as it took part in Canada’s nationwide 5G auction for the 600 MHz spectrum. The company noted that the acquired license is valid for 20 years and enables it to roll out 5G services in urban, suburban and rural communities of Canada. As quoted in … Continued
Rogers Communications (TSX:RCI.A, NYSE:RCI) announced an investment of C$1.7 billion as it took part in Canada’s nationwide 5G auction for the 600 MHz spectrum.
The company noted that the acquired license is valid for 20 years and enables it to roll out 5G services in urban, suburban and rural communities of Canada.
As quoted in the release:
This will bring the company’s planned total capital investment in infrastructure to $4.7 billion in 2019.
“We are proud to make leading and meaningful investments to build the 5G ecosystem in Canada and to help drive our country’s global competitive advantage,” said Joe Natale, President and Chief Executive Officer, Rogers Communications. “This 5G spectrum is a precious and scarce resource that will benefit Canadians and Canadian businesses across the country.”
As Canada’s only national network operator, the company invested $1.71 per MHz/POP to acquire 52 of 64 of the 600 MHz spectrum licenses available to Rogers. This includes all available blocks in Southern and Northern Ontario, Northern Quebec, Atlantic Canada, Manitoba and all three territories. This spectrum will be combined with future 3500 MHz and millimetre wave spectrum to create a global best-in-class 5G network across Canada.
“Investment in wireless networks is essential and Rogers has led the way through every major network technology evolution,” says Natale. “This spectrum is vital to the deployment of 5G in Canada and we are well positioned to bring the very best of 5G to Canadians. We went into this auction with a clear, disciplined plan and seized this opportunity for the benefit of our customers and shareholders.”
600 MHz carries wireless data across long distances and through dense urban buildings. This creates more consistent and higher quality coverage in both remote areas and smart cities. This coverage will benefit businesses across the country that rely on real-time data including farming, mining, manufacturing and transportation.
Rogers is partnering with Ericsson and upgrading its infrastructure to 5G ready technology. The company’s national network is now ready to support 5G applications and last month, it completed its first 5G data connection trial in downtown Toronto. Through its partnership with the University of British Columbia, Rogers is building a real-world 5G hub that will be a testbed and blueprint for 5G innovation in Canada.
Today’s announcement is part of Rogers multi-year commitment to help fuel Canada’s innovation agenda. Including our current 600 Mhz spectrum acquisition, Rogers has invested over $30 billion to build its national wireless network. Rogers reinvests over 80% of its profits back into Canada every year through spending on infrastructure, spectrum, taxes, interest and other investments.