Telus Acquires New 600 MHz Spectrum for C$931 Million

Telus (TSX:T, NYSE:TU) announced on Wednesday (April 10) that it acquired new 600 MHz spectrum licenses in provinces of British Columbia, Alberta, Saskatchewan, Ontario and Quebec.

The company said that the acquisition costed it C$931 million and that the new additions would be used for 4G LTE and 5G services.

As quoted in the release:

Canadians today enjoy the second fastest networks in the world, behind only Norway, and TELUS has been recognized in Ookla’s analysis of Speedtest Intelligence data as having Canada’s fastest network.

“The acquisition and deployment of this spectrum is critical to the advancement of our national 5G growth strategy and to the global-leading network quality, speed and coverage we provide to Canadians,” said TELUS President and CEO Darren Entwistle. “As the demand for wireless data continues to grow, the acquisition of 600 MHz spectrum will enable TELUS to deliver enhanced urban and rural connectivity to our customers on Canada’s fastest and most reliable network.”

The 600 MHz band is important for its ability to travel great distances in rural areas and infiltrate barriers to better reach in-building locations such as elevators and parking garages, making it highly conducive to 5G deployment. TELUS’ 4G LTE network covers 99 per cent of Canada’s population, and the addition of 600 MHz spectrum will allow TELUS to increase urban capacity, while also expanding the rural availability of wireless broadband service. TELUS has invested more than $6 billion in spectrum-related costs since 2008, and over $54 billion in technology across the country since 2000.

Click here for the full release.