Telus Buys Spectrum For $479 Mln

(RTTNews) - Canadian telecommunications company Telus (TU, T.TO) on Tuesday said it has secured licenses for 40 MHz of spectrum across Canada in the recently concluded 2500 MHz auction. Telus paid $479 million for the spectrum.

The acquired spectrum is ideal for carrying large amounts of data, making it especially valuable in urban centres, and will complement the company's existing low band spectrum, which is better able to penetrate buildings and elevators and also travels farther in rural areas.

Telus intends to fund the $479 million 2500 MHz spectrum licence investment from existing credit facilities.