TELUS Secures 16.6 MHz Of National Spectrum For About $1.14 Bln

(RTTNews) - TELUS (TU) Wednesday said it has acquired spectrum licences equating to a national average of 16.6 MHz in Canada's recently concluded 700 MHz spectrum auction, for approximately $1.14 billion.

The 700 MHz spectrum, which has the ability to penetrate into buildings and propagate over long distances, has been made available to Canadian wireless carriers for the first time.

The acquisition enables TELUS to deliver enhanced mobile broadband connectivity to its consumer and business customers nationwide, building on its existing national 4G LTE network.

"Moreover, the spectrum will enable us to further enhance our coverage in urban areas, adding much needed capacity for our more than 7.8 million customers, " said TELUS President and CEO Darren Entwistle.