(Bloomberg) — Canada’s biggest telecommunication stocks have fallen to multi-year lows as competitive wireless strategies failed to impress investors. A number of analysts say the rout is presenting a good buying opportunity.
The S&P/TSX Composite’s communications index has been the worst group performer in the broader index so far this year, posting a loss of nearly 16 per cent since early January. The index is made up of heavyweight telco names like Rogers Communications Inc. and Telus Corp., whose stocks trade near their 2016 levels, as well as BCE Inc., whose shares hover around their lowest point since 2013.
One reason for the slump: The companies’ wireless strategies “aren’t doing right by investors” as they try to beat on price after Rogers closed its…
