Canadian industry minister Jim Prentice has told reporters that the country will auction 700MHz spectrum in around 18 months time, reports Reuters. His comments follow the conclusion of Canada’s recent Advanced Wireless Services (AWS) auction, which raised C$4.25 billion – more than twice most analyst estimates – and saw 15 companies awarded licenses. The 700MHz airwaves could be even more profitable as they are able to cover long distances and penetrate obstacles such as thick walls and buildings. The auction of 700MHz spectrum in the US earlier this year saw incumbent US mobile operators AT&T and Verizon spend a combined US$16 billion to secure licenses.

Prentice described the 700MHz spectrum as “highly prized,” though he hinted that a greater priority was to see increased competition in the Canadian market in the wake of the recent AWS auction. “I’ve seen estimates… that it will be approximately a year before we see new competition, but I certainly anticipate that at some time between now and that date we will begin to see new competition in the marketplace,” he told reporters at a news conference, reports Reuters.