TELUS CORP. $41 - Toronto symbol T

TELUS CORP. $41 (Toronto symbol T; Conservative Growth and Income Portfolios, Utilities sector; Shares outstanding: 618.9 million; Market cap: $25.4 billion; Price-to-sales ratio: 2.2; Dividend yield: 3.7%; TSINetwork Rating: Above Average; www.telus.com) has dropped its $350-million bid for wireless carrier Mobilicity.

The company was more interested in Mobilicity’s wireless frequencies, or spectrum, than its 165,000 wireless customers (Telus has 7.8 million wireless subscribers across Canada).

However, Ottawa opposed the deal. As well, if Telus had refused to drop the takeover, Ottawa would probably have blocked it from bidding on new spectrum at an auction planned for April 2015.

Telus is a buy.

A professional investment analyst for more than 30 years, Pat has developed a stock-selection technique that has proven reliable in both bull and bear markets. His proprietary ValuVesting System™ focuses on stocks that provide exceptional quality at relatively low prices. Many savvy investors and industry leaders consider it the most powerful stock-picking method ever created.