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Québecor Média has sold seven wireless spectrum licenses to Shaw Communications for $430 million, the company announced Tuesday.

The move allows Shaw to use a portion of Québecor’s bandwidth for broadcasting purposes.

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These licences are located in the 2,500 MHz and 700 MHz bands held by Vidéotron outside Quebec.

The transaction is subject to regulatory approvals, including from the Canadian competition bureau, and Innovation, Science and Economic Development Canada.

In a statement, Québecor said Vidéotron intends to continue investing in the development of its network in Quebec and Eastern Ontario through the sale of assets.