Quebecor Delivers on All Obligations for Freedom Mobile Acquisition | 2024-07-05

Quebecor (TSX:QBR.A) Completes All Commitments to Acquire Freedom Mobile by Subsidiary Videotron to Advance Innovation, Science and the Canadian Economy
The Montreal-based telecommunications company said the progress report submitted to ISED outlines its progress, including maintaining wireless subscription prices by introducing a “mobile price freeze guarantee” for all current and future Freedom Mobile customers.
Quebecor also offered cheaper mobile packages, which accounted for a significant portion of the 26.6 percent reduction in the wireless component of the Consumer Price Index, according to Statistics Canada
Quebecor’s last share price was CAD 29.72 per share

Quebecor (TSX:QBR.A) has fulfilled all obligations arising from the acquisition of Freedom Mobile by its subsidiary Videotron to Innovation, Science and Economic Development Canada (ISED).

This comes just over a year after the acquisition of Freedom Mobile, which took place on April 3, 2023.

The Montreal-based telecommunications company said Videotron’s Commitment Progress Report submitted to ISED outlines its progress, including:

Maintaining the prices of mobile network tariff plans by introducing a “mobile price freeze guarantee” for all current and future Freedom Mobile customers
Offering cheaper mobile packages, which was a major part of the 26.6 per cent reduction in the wireless component of the Consumer Price Index, according to Statistics Canada, in the year following the acquisition of Freedom Mobile
Expanding Freedom Mobile and Fizz services to Manitoba and other Canadian markets via MVNO agreements

Quebecor intends to continue to work with regulatory and governmental authorities to further strengthen competition.

A recent study by Tefficient found that Canadian telecommunications companies charge the highest rates compared to 44 countries in the world.

Quebecor is an integrated communications company operating in the telecommunications, entertainment, news media and culture sectors, operating for over 70 years.

Quebecor (TSX:QBR.A) stock last traded at CAD 29.72 per share, and over the past year the stock has fallen by 14.51%.

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(Top photo: Quebecor)