TELUS Corporation ( TU Quick Quote TU - Free Report) , in collaboration with the Government of Canada, has announced a C$15 million investment for the deployment of a submarine fiber optic cable between Sept-Iles and the Gaspesie region. The project is likely to improve the reliability of telecommunication services on the North Shore. In case of a fiber cut on the main transmission network, the submarine cable will ensure continuity of Internet, TV, and wireline and wireless phone services to the communities located between Baie-Comeau and Blanc-Sablon. Between 2013 and 2021, TELUS intends to invest more than C$300 million to expand its PureFibre network in the Quebec City region and the eastern part of Quebec, with C$72 million from the federal and provincial governments. Over the next two years, it aims to offer direct fiber access to 93% of Greater Quebec City and Eastern Quebec residents. Now, the additional fiber optic cable will ensure the readiness of public institutions, enable local companies to grow their digital presence and connect people with their near and dear ones. TELUS and the Government of Canada plan to complete the deployment of the submarine cable by 2023. Upon completion, it will be connected to TELUS’ telecommunications network, which serves 14 isolated communities in the Lower North Shore. These communities were first connected to high-speed Internet and mobile phone service in November 2019. Meanwhile, TELUS has launched 5G networks in Vancouver, Montreal, Calgary, Edmonton and the Greater Toronto Area. It plans to expand to an additional 26 markets across Canada through 2020. The company acquired a 100% stake in Mobile Klinik to grow its wireless business. It is well positioned to benefit from the increasing penetration of smart devices, wireless data services and wireline fiber-optic networks. TELUS secured 600 MHz spectrum licenses in British Columbia, Alberta, Saskatchewan, Ontario and Quebec for C$931 million. Equating to a national average of 11.3 MHz, these licenses will allow it to provide better mobile broadband connectivity at a time when the industry is moving from 4G LTE to 5G. The deployment of this spectrum is important to TELUS’ 5G growth strategy along with network quality, speed and coverage. The company expects balanced growth in its wireless and wireline businesses backed by investments in high-speed broadband technology. It plans to generate subscriber growth in its key growth segments, including wireless, high-speed Internet and TELUS TV. Increasing demand for reliable access and fast-data services are expected to support customer additions. Furthermore, TELUS International and TELUS Health are likely to contribute to the company’s growth. Other prominent players in the broader industry include BCE Inc. ( BCE Quick Quote BCE - Free Report) , Telefonica, S.A. ( TEF Quick Quote TEF - Free Report) and Deutsche Telekom AG ( DTEGY Quick Quote DTEGY - Free Report) . Just Released: Zacks’ 7 Best Stocks for Today
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