Canada’s 700Mhz spectrum auction is over, results tomorrow (Update)

According to sources close to Reuters, the 700Mhz spectrum auction is over and results are expected to be released publicly as early as Wednesday, though depending on due diligence it may come Thursday.

Industry Canada is required to post the results five days after the end of proceedings, barring any findings of collusion or other mishaps. Bidding reportedly ended a week ago, and the majority of dealings concluded on Friday.

Though the 700Mhz spectrum auction isn’t expected to raise nearly as much as the AWS auction did in 2008, sources say estimates of $1.5 billion to $1.8 billion are reasonable. And while there are bidders looking to make a move on the margins of the industry, the bulk of the spectrum is expected to go to incumbents Rogers, Bell and Telus, as well as regional players Videtron, MTS, SaskTel and others. Globalive, parent company of Wind Mobile, dropped out of the race the day before the auction began.

Update: The results are confirmed to be coming tomorrow at 5pm ET. Stay tuned here for details.


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