|By Marketwired .||
|June 18, 2014 03:15 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 06/18/14 -- At a keynote speech to The 2014 Canadian Telecom Summit, Quebecor President and CEO Pierre Dion today outlined a vision for a new low-cost wireless service in Canada, one that would provide Canadians with competitive voice, data and roaming plans currently only available in Europe and Australia.
"Our vision is to provide Canadians with a new high quality, low-cost wireless choice and real wireless competition," said Mr. Dion. "We aim to deliver real low-cost wireless plans for consumers, real wireless competition, and a real new offering in the Canadian marketplace. Under the right conditions, we are ready, willing and able to become Canada's "fourth wireless competitor."
Videotron is uniquely positioned to address the Canadian government's stated policy objective of a serious fourth competitor in the markets where this is lacking - a fourth competitor who is experienced, well-financed, well-equipped, highly entrepreneurial and customer-focused.
Videotron's plan is based upon achieving meaningful market penetration through offering Canadians outside Quebec the country's best low-cost subscriber plans.
The plan includes major investments in spectrum, an expanded network and consolidation with willing partners. To date Videotron has invested over $1.6 billion in wireless spectrum and networks.
Critical to the vision is an urgent need for a fair and competitive federally regulated roaming policy. The current regulatory landscape favours the incumbent wireless players in Canada. According the Competition Bureau of Canada, incumbent players have used the roaming policy as a "strategic tool to eliminate or reduce the competitive pressure... in Canadian mobile wireless markets."
Independent research conducted by the SeaBoard Group suggests that roaming rates charged by the incumbents to new entrants can be many times more than even the lower interim rates established by Industry Canada in the recent Budget Implementation bill.
"With a fair, competitive and level playing field on roaming, the stage will be set for a new era of consumer choice in Canada. It will benefit consumers, small businesses, and the economy at large," added Mr. Dion. "It will be the dawn of a new sustainable and viable low-cost wireless service."
Quebecor, a Canadian telecommunications, entertainment and news media leader, is one of the best-performing integrated communications companies in the industry. Driven by their determination to deliver the best possible customer experience, all of Quebecor's subsidiaries and brands are differentiated by their high-quality, multiplatform, convergent products and services.
Quebecor (TSX: QBR.A)(TSX: QBR.B) is firmly based in Quebec. It holds a 75.36% interest in Quebecor Media, which employs more than 15,000 people in Canada.
A family business founded in 1950, Quebecor is strongly committed to the community. Every year, it actively supports people working with more than 400 organizations in the vital fields of culture, health, education, the environment and entrepreneurship.
Visit our website: www.quebecor.com
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