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Canada to reveal wireless spectrum auction results on Wednesday

19
Feb
2014

By Alastair Sharp and Euan Rocha TORONTO (Reuters) – The Canadian government confirmed on Tuesday that it has completed an auction of prized wireless spectrum and will reveal those results on Wednesday. The 700 megahertz spectrum, which is valued for its ability to carry a signal over long distances and to penetrate buildings, will be used by Canada’s big wireless companies and some smaller ones to build more powerful mobile networks. Canada’s Industry Minister James Moore, in a brief statement late on Tuesday, said the results would be announced in Ottawa at 5 p.m. EST on Wednesday, confirming an earlier Reuters report that the auction had ended and results were imminent. But Dvai Ghose, an analyst at Canaccord Genuity, said on Tuesday he expects the auction to bring in more than C$2.5 billion ($2.3 billion) for Ottawa.

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