"Rogers already has its (high speed packet access wireless) network, which is a direct competitor to WiMAX," Grant said. "Bell with its partner Telus is overbuilding an HSPA network as well, which is directly competitive to the WiMAX investment."

Grant was referring to the deal announced last year in which technology.

A spokeswoman for Bell Canada, Julie Smithers, said the spectrum "will support Inukshuk's long-term wireless broadband strategy."

Bell is not elaborating because it does not want to reveal its plans to its competitors. Inukshuk currently uses both Bell and Rogers' wireless networks to provide broadband service in isolated and sparsely populated areas, including reservations for aboriginal Canadians.

Gerald McGoey, Look's chief executive officer and major shareholder, was not available at press time.