Verizon news causes dip in Telus, Rogers shares – and a buying opportunity

TORONTO – Reaction to last week’s news of Verizon’s entry into the Canadian wireless market has sent Telus and Rogers shares into decline, while market caps for BCE, Shaw, Bell Aliant and MTS have increased – a move that Canaccord Genuity analyst Dvai Ghose calls “baffling.” Ghose says Rogers and Telus were oversold based on the perceived risk of Verizon entering Canada. Rogers and Telus shares have dropped 10.3% and 12.1%, respectively since June 17, when the Globe and Mail first reported Verizon was looking at getting into the Canadian market by purchasing Wind Mobile. In contrast, Shaw shares are up...