US EditionTelus selling 49.9% stake in cell towers to La Caisse for $1.26B, Q2 profit down
- Telus Corp. is selling a 49.9 percent stake in a wireless tower operator called Terrion to La Caisse for $1.26 billion.
- This sale aims to help Telus reduce its debt and improve its balance sheet, according to Telus's president and CEO Darren Entwistle.
- Telus reported a net loss of $245 million for the three months ending June 30, compared to earnings of $221 million last year.
- The transaction is part of a trend as telecom companies sell non-core assets amid industry challenges like slower growth and competition.
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Winnipeg Free Press+14 Reposted by 14 other sources
Telus selling 49.9% stake in cell towers to La Caisse for $1.26B, Q2 profit down
Breaking News, Sports, Manitoba, Canada
·Winnipeg, Canada
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Telus reports drop in profit for Q2; La Caisse to acquire stake in infrastructure - The Wire Report
Telus Corp. has picked a global investment group and pension fund to acquire a 49.9 per cent equity interest in its infrastructure. The post Telus reports drop in profit for Q2; La Caisse to acquire stake in infrastructure appeared first on The Wire Report.
The partial sale of assets will be used to reduce debt. The post Telus sells 49.9% of its shares in cell towers to La Caisse for $1.26 billion appeared first on Les Affaires.
Coverage Details
Total News Sources17
Leaning Left9Leaning Right0Center1Last UpdatedBias Distribution90% Left
Bias Distribution
- 90% of the sources lean Left
90% Left
L 90%
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