Spectrum auction bidding tops CAD3 billion

In a statement posted on its website, Industry Canada has revealed that total bids in the country’s wireless spectrum auction have reached CAD3.03 billion (USD2.98 billion) after 29 rounds of bidding, almost double some analysts’ estimates. The auction is still in the first of three stages and may last until the end of this month, Industry Minister Jim Prentice said last week. Largest cellco by subscribers Rogers leads the way, having bid CAD614.7 million for 44 licences, followed by Telus (CAD687.8 million, 53), and Bell Mobility (CAD450.5 million, 49). Of the potential new entrants, the largest bidders so far are Globalive, which has bid CAD428.3 million, and Quebecor, offering CAD403.4 million.