Canada’s 5G spectrum auction raises record CA$8.9 billion

According to a Reuters report, Canada’s auction of 3500 MHz spectrum, which is key for 5G networks, raised a record CA$8.9 billion, 80% of which the country’s three dominant telecom firms are accounting for. Out of 1,504 available licenses, 1,495 were awarded to 15 Canadian companies. The Minister of Innovation Francois-Philippe Champagne said the result would boost competition, referring to the government’s push to open up a market that is dominated by BCE, Telus, and Rogers Communications.