Quebecor Inc. surged the most in more than four years after spending C$233 million ($210 million) to buy airwaves in a government spectrum auction that positions the company to become Canada’s fourth national wireless operator.
The Canadian government raised C$5.27 billion ($4.76 billion) from its auction of 700-megahertz spectrum as Rogers Communications Inc. paid heavily to secure new airwaves and Quebecor Inc. spent more to get a foothold outside its home market.
James Moore, a managing director at Pacific Investment Management Co., says returns on retirement accounts will average 5 to 6 percent. Moore talks with Bloomberg's Tom Keene and Michael McKee on Bloomberg Radio's "Bloomberg Surveillance."
Canadian Industry Minister James Moore, facing criticism from phone companies, business groups and unions, said he’s not convinced changes are needed to the rules or timing of the government’s wireless spectrum auction.
Canadian Industry Minister James Moore said it’s up to BlackBerry Ltd. to pull off a turnaround on its own, signaling the government has no plans to intervene in the struggling smartphone maker’s future.