Canada's TELUS Attains New 3800 MHz Spectrum Licences

Canada's TELUS Corp TU disclosed the acquisition of new 3800 MHz spectrum licenses nationwide for 620 million dollars. 

With the deal, the company will now hold licenses to an average of 72 MHz of 3800 MHz spectrum nationally. 

Combined with the 3500 MHz spectrum obtained in 2021, TELUS has secured around 100 MHz of prime 5G mid-band spectrum nationally, with contiguity in 96% of the country, including all major markets. 

Darren Entwistle, President and CEO said, "Perhaps most importantly, this spectrum will also help us to bridge digital divides so that every member of our society has the opportunity to realise their full potential."

TU reported Q3 FY23 operating revenues and other income growth of 7.2% year-over-year to C$5.01 billion. Adjusted EPS was C$0.25, down from C$0.34 a year ago.

Price Action: TU shares closed higher by 2.11% at $17.91 on Thursday.