Kure Technologies Inc V.KUR.H

MTS is in LOOK/UBS: Unknown

[DAbramov]

Hot off the press: Original Source: https://canadianpress.google.com/article/ALeqM5jTSJdq2uPzmsi2wu3EYsYYXy3Fjw ========= MTS, CPP and Blackstone form consortium to bid in wireless auction 4 hours ago TORONTO — Manitoba Telecom Services Inc. (TSX:MBT) has joined with the Canada Pension Plan Investment Board and the Blackstone Group L.P. to bid in the upcoming wireless spectrum auction. The consortium said it has made a $340-million deposit in the form of letters of credit to Industry Canada ahead of the Monday deadline for submissions to enter Canada's wireless auction, which will take place in May. They will be joined by Globalive Communications Corp., parent company of Yak Communications (Canada) Corp., which also said it has submitted its application to Industry Canada. Ottawa opened the possibility of greater competition from smaller regional players in November after months of public jockeying by MTS, which already offers wireless service in Manitoba, and Montreal-based Quebecor Inc. (TSX:QBR.B), which pushed Ottawa for help getting a toehold in the wireless industry. The federal government has set aside a certain amount of spectrum for new or small players that could bring cellphone users more choice and more competitive pricing in the market. Late last year, debt-rating agency DBRS said it doesn't expect Canada's three wireless giants to suffer near-or medium-term credit woes if smaller regional players enter the cellphone market. However, it said new entrants such as Quebecor and Manitoba Telecom, could slow the growth rate of big players such as Rogers Communications (TSX:RCI.B), Telus Corp. (TSX:T) and BCE Inc. (TSX:BCE). Quebecor has said will invest $500 million to build a broadband wireless network in Quebec. Unique Broadband Systems, Inc. (TSXV:UBS) and its subsidiary Look Communications Inc. (TSXV:LOK), have speculated about entering the cellphone market. Look currently has the right to use about 90 megahertz of MDS spectrum in the 2.6-to-2.7-gigahertz mobile spectrum band. The company said its share of the spectrum, coupled with its mobile broadcast licence, positions it well in the wireless market.