Quebecor’s Fortunes Will Depend on How Its National Wireless Plans Proceed

Telecom dominates Quebecor’s business, making up more than 80% of revenue and about 95% of EBITDA. The firm has historically focused its telecom efforts in Quebec, where it dominates the fixed-line market--providing broadband service to 60% of the homes its network passes--and holding its own in wireless against national providers. We estimate Quebecor has a 21% wireless market share in Quebec.