Rogers, BCE and Telus Up on Announcement of Wireless Spectrum Bidders

After rising almost 7% in early trading Tuesday, Rogers Communications Inc. (RCI) appeared to be the big winner with investors following Monday's release of qualified bidders for the wireless spectrum auction in May.

With no large U.S. wireless carriers seeking a slice of Canada's expanded wireless market through the auction, many observers, including National Bank Financial analyst Greg MacDonald, say the risk to Canada's big three incumbent players – Rogers, Telus Corp. (TU) and BCE Inc. (BCE), – has been reduced.

Rogers stock jumped C$2.54 to C$39.46 Tuesday morning, while Telus shares climbed 2% or C$0.90 to C$45.60. BCE, whose stock has been dogged by ongoing fears that the C$52-billion buyout for the company is in jeopardy, rose just C$0.22 to C$34.97.