News Summary

Telus, a Vancouver-based national carrier, is in the midst of a potential sale of a 49% stake in its cellphone tower network, valued at approximately CAD 1.2 billion. Three Canadian asset managers, including the Ontario Municipal Employees Retirement System (OMERS), British Columbia Investment Management Corp. (BCI), and Toronto-based Brookfield, are reportedly in talks to purchase the stake. The transaction aims to reduce Telus’ debt, and the company plans to spin off the minority stake into a new entity called Terrion. This move follows a trend among Canadian telecom companies to sell infrastructure stakes, as seen with Rogers’ recent sale of a minority stake in its wireless backhaul to Blackstone. Telus hopes to finalize the deal by the end of the year.