Historically, Telus has been a regional player with expensive debt. That changed when they (a) purchased Black’s Photos and have a national retail footprint, (b) Teamed with BCE to build the best wireless network in Canada and (c) restructured their debt at record low rates.

I see the incumbents as being stronger competitors at this point than Globalive and the small players as they have a network to sell. If Globalive wants to own the pre-paid market from Blockbuster stores let e’m have it. The customers you want are looking for smart phones and the LTE network Telus shares with BCE will provide a great experience.

I own shares of TU today and will be buying more on the dips.