The Successful Investor Hotline – Friday, September 6, 2013

Article Excerpt

TELUS CORP., $33.31, Toronto symbol T, rose 3% this week on news that U.S.-based Verizon Communications (New York symbol VZ) is buying the 45% of Verizon Wireless that it does not already own from U.K.-based Vodafone Group (Nasdaq symbol VOD). Verizon is a recommendation of Wall Street Stock Forecaster, our newsletter that focuses on U.S. stocks. Verizon Wireless is a joint venture that sells wireless services to 100.1 million subscribers in the U.S. Verizon is paying $130 billion U.S. for Vodafone’s stake, which is just below its $132.6-billion U.S. market cap (or the total value of all its outstanding shares). Shares of Telus fell from their recent peak of $37.94 on May 22, 2013, to $29.52 on June 27 on fears that Verizon would buy two smaller Canadian wireless carriers, Mobilicity and Wind Mobile, and bid on new wireless frequencies, or spectrum. However, in the wake of the Vodafone deal, Verizon announced that it would not enter Canada’s wireless market at…