TELUS Acquires 40 MHz of 2500 MHz Spectrum for $479 millionTuesday, May 12, 2015
Vancouver, BC, May 12, 2015--(T-Net)--TELUS (TSX:T)(TU) today announced it has secured licenses for 40 MHz of spectrum in every region across Canada in the recently concluded 2500 MHz auction.
This spectrum is ideal for carrying large amounts of data, making it especially valuable in urban centres, and will complement TELUS' existing low band spectrum, which is better able to penetrate buildings and elevators and also travels farther in rural areas.
"Spectrum is the oxygen of a wireless network, the one element that allows Canadians to have an immersive experience while on the move," said Eros Spadotto, TELUS executive vice-president of Technology Strategy. "TELUS has invested significantly over the last several auctions to ensure our 8.3 million wireless customers will continue to have access to outstanding speed, reach, and capacity as demand for wireless services continues to increase."
Investing in a broad mix of spectrum allows TELUS to continue putting customers first by offering them one of the fastest and most reliable wireless networks in the world, according to the company.
The 2500 MHz band is already supported by leading smartphone and network equipment manufacturers, so TELUS will be able to very quickly put it to work for customers.
TELUS stated in a release that "it is committed to enhancing the coverage and capacity of its wireless network so that customers may enjoy even faster speeds when they want to be entertained on-the-go, stay connected with family and friends, remain engaged with business contacts, and access healthcare applications".
TELUS intends to fund this $479 million 2500 MHz spectrum licence investment from existing credit facilities.
Forward Looking Statements
This media release contains statements about future events, including with respect to spectrum deployment and network build-out plans, and our multi-year dividend growth and normal course issuer bid programs that are forward-looking. By their nature, forward-looking statements require the company to make assumptions and predictions and are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate and there can be no assurances that TELUS will complete these plans or maintain these programs. Future dividend payments and share purchases through TELUS' normal course issuer bid are subject to ongoing Board assessment and approval. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors (such as regulatory and government decisions, competitive environment, our earnings and free cash flow, and capital expenditures and spectrum licence purchases, and a change in our intention to purchase shares or increase dividends) could cause actual future performance and events to differ materially from that expressed in the forward-looking statements. Except as required by law, TELUS disclaims any intention or obligation to update or revise forward-looking statements.
TELUS (TSX:T)(TU) is Canada's fastest-growing national telecommunications company, with $12.1 billion of annual revenue and 13.9 million customer connections, including 8.3 million wireless subscribers, 3.1 million wireline network access lines, 1.5 million high-speed Internet subscribers and 937,000 TELUS TV customers. TELUS provides a wide range of communications products and services, including wireless, data, Internet protocol (IP), voice, television, entertainment and video, and is Canada's largest healthcare IT provider.
In support of our philosophy to give where we live, TELUS, our team members and retirees have contributed more than $396 million to charitable and not-for-profit organizations and volunteered and more than 6 million hours of service to local communities since 2000. Created in 2005 by Executive Chairman Darren Entwistle, TELUS' 11 community boards across Canada have led the company's support of grassroots charities and will have contributed $47 million in support of 3,700 local charities organizations by the end of 2014, enriching the lives of more than two million Canadian children and youth. TELUS was honoured to be named the most outstanding philanthropic corporation globally for 2010 by the Association of Fundraising Professionals, becoming the first Canadian company to receive this prestigious international recognition.
For more information about TELUS, please visit telus.com.
TELUS Media Relations
TELUS Investor Relations
Burnaby, BC (InfoTech)
TELUS Communications Inc.
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