Quebecor announces it has met all commitments related to the acquisition of Freedom Mobile

MONTRÉAL, July 4, 2024 /CNW/ - Just over a year after the acquisition of Freedom Mobile on April 3, 2023, Quebecor is pleased to announce that it has fulfilled all nine undertakings made by its Videotron Ltd. subsidiary to Innovation, Science and Economic Development Canada (ISED) at the time of the transaction.

The Progress Report on Fulfilment of Videotron Ltd.'s Undertakings submitted to ISED on July 3 describes this remarkable progress, including:

• Maintaining the prices of wireless plans by introducing a Mobility Price Freeze Guarantee for all current and future customers of Freedom Mobile;
• Promoting competition and lowering wireless prices by offering affordable mobile packages backed by an enhanced customer experience, which was instrumental in the 26.6% reduction in the wireless component of the Consumer Price Index¹ during the year following the acquisition of Freedom Mobile;
• Extending Freedom Mobile and Fizz services to Manitoba and other Canadian markets through MVNO² agreements;
• Offering low-cost 5G plans to an ever-growing number of Canadians.

The full report is available here.

Quebecor intends to build on these achievements and continue working with regulatory and government authorities to further strengthen competition for the benefit of all Canadian consumers.

1 Source: Statistics Canada

2 Mobile Virtual Network Operator

About Quebecor
Quebecor, a Canadian leader in telecommunications, entertainment, news media and culture, 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.

Québec-based Quebecor (TSX: QBR.A) (TSX: QBR.B) employs more than 11,000 people in Canada.

A family business founded in 1950, Quebecor is strongly committed to the community. Every year, it actively supports more than 400 organizations in the vital fields of culture, health, education, the environment and entrepreneurship.

SOURCE Québecor Média inc.

Copyright 2024 Canada NewsWire