Canada’s 3.5GHz auction ended this week with a total of $7.2 billion (C $8.9B with US $1 = 1.2444 Canadian dollars) in winning bids. Bell Canada (BCE), Rogers Communications and Telus captured roughly 80% of the spectrum offered for sale by Canada’s government.
Xona Partners analyst Frank Rayal noted the Canadian auction clocked in at an average of $1.83 per MHz-POP. The per MHz-POP calculation is applied to most spectrum transactions and reflects the number of people covered compared with the amount of spectrum available, though it can be affected by a wide variety of factors. Rayal said that’s a record price for mid-band spectrum and far higher than the $0.94 per MHz-POP that U.S. operators paid for similar C-band spectrum in the FCC auction earlier this year.
“Underscoring the Bell team’s goal to advance how Canadians connect with each other and the world, acquiring this significant additional 3500MHz spectrum will drive Bell’s ongoing leadership in 5G, a critical component in our multibillion-dollar program to accelerate investment in Canada’s next-generation network infrastructure and services,” Mirko Bibic, president and CEO of BCE and Bell Canada, said in a press release.