Verizon Canada Foray Would Deal Rogers and Telus Bigger Blow

Rogers Communications Inc. and Telus Corp. would be hardest hit among Canada’s main wireless carriers from Verizon Communications Inc.’s potential foray north while BCE Inc. may be better insulated by its broadcast and land-line moat.

A report yesterday that Verizon has made a bid for Toronto-based Wind Mobile has sent shares of Rogers and Telus tumbling for a second day and prompted downgrades to both stocks. Verizon, whose market value of $145.9 billion is more than double that of BCE, Rogers and Telus combined, last week confirmed it’s mulling an entry into Canada. It declined to comment on whether it has made an offer for Wind that would value it at C$700 million ($668 million) or that it started talks with Mobilicity, another new entrant.