For those who live in the Greater Toronto Area, Vancouver, Calgary, or Edmonton, this is huge news. This spectrum purchase will allow Freedom to roll out competitive LTE coverage within their current footprint in relatively short order, including backward compatibility with existing devices. Freedom still won't have the national coverage of the big 3, but this helps within their current coverage area.
Unfortunately, Videotron retained all their spectrum for Ottawa, which was already Freedom's market with the fewest spectrum holdings. I wonder if we may see an eventual network sharing agreement between Shaw and Videotron in that market, akin to Bell and Telus elsewhere. The 1700 spectrum held by Shaw in that area would be extremely valuable to Videotron, and Freedom may not have enough spectrum to compete long term there, but I don't think Shaw wants to just abandon that market given what Freedom, pre-acquisition, invested in the network buildout there.