By ET Bureau - August 31, 2021 1 Mins Read
The latest auction by Canada for 500 MHz spectrum is a crucial factor for next generation 5G networks. It has generated a best ever fund of US $7.2 billion (C$ 8.9 billion) with the help of the top telecom companies.
It accounted for more than 80% of the amount raised. Out of 1,504 banking licenses, around 1,495 were awarded to 15 Canadian firms. This includes 757 licenses to regional and small providers, indicated Francois-Philippe Champagne, Canadian Minister of Innovation.
In fact, he believes that the results would boost competition – a reference to Ottawa’s push to open a new market dominated by Telus Corp, BCE Inc, and Rogers Communications Inc.
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