The telecom sector rallied Friday after Canada’s major telecoms were given the go-ahead by the Federal Court of Appeal to challenge part of the CRTC’s new wireless code of conduct that would affect 3-year cell phone contracts retroactively.
Rogers Communications Inc. (
TSX: T.RCI.B,
Stock Forum),
Bell Inc. (
TSX: T.BCE,
Stock Forum),
Telus Corp. (
TSX: T.T,
Stock Forum) and others say a new CRTC code mandating that contracts run no more than two years would prematurely apply to three-year contracts signed before the new code comes into effect on Dec. 2.
Rogers was the strongest advancer, up 1.5% to $44.31.
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THE MONEYBALL OF SMALL-CAP STOCKS
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