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

| About: Rogers Communications (RCI)
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After rising almost 7% in early trading Tuesday, Rogers Communications Inc. (NYSE: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. (NYSE:TU) and BCE Inc. (NYSE: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.