Round 2 completed in Wireless Spectrum Auction

Day 1 and Round 2 has come to a close in Industry Canada’s Wireless Spectrum Auction with a staggering opening day total of $560,191,875 in what is expected to gross over $1 billion by the end of the 3 day process.

Majority of the licenses were for Toronto, Montreal and Vancouver with Telus leading the way in the number of licences. However, much talk about has been about the new entrants in to the wireless industry in Canada – the largest bid was from Shaw Communications numbered company with 41 licence bids totaling over $153 million, followed by Globalive Wireless has 8 licenses with a $135 million.  In addition, Manitoba Telecom Services numbered company (6934242 Canada Ltd.) had a top bid of $57.7 respectively.

Bidding continues with Round 3 tomorrow at 9:00am and lasts for 2 hours. Then Round 4 starts at 2:00pm until 4:00pm.

Here are the full details