The Globe and Mail reports in its Wednesday edition that the telcos are in bad shape and investors are fed up. Guest columnist Gordon Pape writes that major providers BCE, Rogers and Telus have all seen their share prices fall in recent years. All are reducing capital expenditures and laying off employees. All this negativism has made the telecommunications subindex one of the worst performers on the Toronto Stock Exchange this year, up only 3.27 per cent. It seems the only company making any progress in the business these days is one that's there almost by accident. In 2023, when Rogers was trying to acquire Shaw Communications, Ottawa insisted that the Freedom Mobile wireless operation be divested. Quebecor Inc., which was mainly a regional player operating in Quebec and Eastern Canada, saw the opportunity and jumped at it. It bought Freedom for $2.17-billion. That deal now looks like a real steal. Freedom has established itself as a strong competitor. The acquisition allowed Quebecor to offer multiservice bundles (wireless, Internet, TV) across British Columbia, Alberta, Manitoba and Ontario. Quebecor is gaining ground and its stock is performing much better. The stock, now $66.73, pays a quarterly 40-cent dividend.