Freedom Mobile Has New Ownership & Here's What That Means For Your Internet Plans
A Freedom Mobile store in Ottawa.
Canada is known to have one of the most expensive internet services in the world. However, thanks to a recent acquisition, there may be some good news for Canadians.
On April 3, Freedom Mobile was officially acquired by Videotron Ltd., a subsidiary of Quebecor Inc.
If you’re wondering what this all means, it’s that Freedom Mobile is now officially owned by Quebecor.
"A fourth major wireless carrier is launched in Canada," the press statement read.
It also added that this "fourth, strong, competitive wireless service provider" is what “Canadian consumers and governmental and regulatory authorities have been waiting for.”
And there are serious odds that this new acquisition could offer some big perks for Freedom Mobile users.
In order to go through with the acquisition, Pierre Karl Péladeau, president and CEO of Quebecor, committed to ensure that, over a period of ten years, Freedom Mobile plans would be 20% more affordable than equivalent plans by Rogers, Bell and Telus!
This expectation is based on prices in British Columbia, Alberta and Ontario markets, as of February 10 of this year.
If Quebecor fails to follow with its commitment, the company could be subject to damages of up to $200 million.
But that’s not all either.
It also states that Freedom Mobile commits to maintaining prices for existing customers for five years, and even giving them a 10% increase in their local data limit at no extra cost.
Finally, it promises to invest more than $150 million to update Freedom Mobile’s infrastructure, which will enable 90% of its current and future customers to access a 5G technology network with a compatible device within two years.
All of which is good news for anyone looking for ways to save money on their internet plans.
What’s more, the hope is that this deal should drive down internet prices across Canada as a whole.
In a statement, Minister of Innovation, Science and Industry François-Philippe Champagne weighed in on how this might affect Canadians.
"The evidence is clear: Having a strong fourth competitor does lead to lower prices, as we’ve seen in Atlantic provinces, Quebec, Ontario, Alberta and British Columbia," he said.
He added that this transfer will "ensure that this new national fourth player will be in it for the long haul, be able to go toe-to-toe with the big three, and actually drive down prices across Canada."
All of which sounds pretty promising. Here's hoping for more reasonably priced wireless plans in the near future!
This article's cover image was used for illustrative purposes only.