BCE takeover could aid these three

Article Excerpt

BCE Inc. recently won a legal ruling against a lawsuit launched by its bondholders to block its $42.75-a-share takeover by a consortium led by the Ontario Teachers’ Pension Plan. BCE has also agreed to alter some of the terms to help speed up the takeover. If the buyout goes through, many of BCE’s investors will want to re-invest their proceeds in other high-yielding telecom stocks. Here are three we see as buys. The influx of former BCE investors should also help push up their stock prices. TELUS CORP. (Toronto symbols T $42 and T.A $40; Conservative Growth Portfolio, Utilities sector; Shares outstanding: 321.4 million; Market cap: $13.2 billion; SI Rating: Above average) provides telephone service in Alberta, British Columbia and parts of Quebec. It also operates a nationwide wireless network. The wireless division now supplies close to half of Telus’s revenue. Ottawa now aims to increase competition in the wireless industry. In its current auction of wireless frequencies (called ‘spectrum’ in the industry), the federal…