Wed, Jun. 1, 11:12 AM
- Telus (NYSE:TU) has closed a transaction where Baring Private Equity Asia is taking a 35% stake in its global arm.
- Baring Asia is taking the stake in Telus International, the Canadian telecom's global provider of customer service, IT, and business process services.
- The move values Telus International at C$1.2B -- about C$600M of which will be invested in expanding wireline and wireless networks.
- Telus International has more than 22,000 employees around the word, supporting more than 175M customer interactions a year.
Tue, May 31, 6:32 PM
- Moody's has put Telus' (NYSE:TU) unsecured bond ratings on review for downgrade, with a focus on how the company uses cash for shareholder returns and capital expenditures, "even as growth slows, competition increases, and a multi-year network infrastructure investment program continues at an intense pace," says Moody's Bill Wolfe.
- The review will be done within 30-60 days. It'll be done in the context of favorable operating fundamentals, the firm says, but the prospect of slowing growth.
- It's affirmed the company's Prime-2 commercial paper rating, based on the company maintaining its $2.25B revolving credit facility.
Mon, May 16, 9:36 AM
- Doug French has been named chief financial officer at Telus (NYSE:TU), replacing John Gossling, who's leaving for other opportunities after three and a half years in that role.
- French is rising from the role of corporate controller and will work with Gossling on transferring responsibilities through the end of May.
- Now read Telus Heading Towards Buy Range »
Wed, May 11, 11:09 AM
- Canada has denied an appeal by BCE of a decision that requires its telecoms to share their last-mile fiber connections.
- That means the decision by its regulator (Canadian Radio-television and Telecommunications Commission) is upheld, and smaller firms will get an expansion foothold as Canada's big three -- BCE, Telus (NYSE:TU) and Rogers Communications (NYSE:RCI) -- will have to share connections to homes and businesses.
- The CRTC made the decision to protect competition in the sector. It "strikes the right balance between the private sector having incentive to invest and consumers having a competitive choice," says Navdeep Bains, the country's minister of innovation.
- In U.S. trading: BCE -0.4%; TU +1.4%; RCI +0.5%. Shaw Communications (NYSE:SJR), entering the wireless market through its acquisition of Wind Mobile, is up 0.7%.
- Now read Shaw Communications Picking A Challenging Time To Work To Become The Fourth Major Canadian Telecom Giant »
Thu, May 5, 6:16 AM
Thu, May 5, 6:11 AM
Mon, May 2, 8:39 AM
- BCE agrees to acquire Manitoba Telecom Services (OTCPK:MOBAF) for ~C$3.9B ($2.5B), including $800M of debt, to expand its services in the Canadian province.
- BCE will pay C$40/share, a 22% premium to Manitoba Telecom’s Friday closing price in Toronto.
- The company says it plans to invest C$1B over five years after the deal closes to expand its broadband networks and services throughout Manitoba.
- BCE also says it will divest about a third of Manitoba Telecom’s postpaid wireless subscribers to Telus (NYSE:TU) following the completion of the deal.
Mon, Apr. 4, 10:44 AM
- Telus (NYSE:TU) plans to invest $4.5B into new infrastructure in Alberta over the next four years, committing to the province amid economic challenges.
- That starts with more than $900M this year to extend its fiber-optic assets and strengthen wireless service.
- Telus says the work will create more than 1,250 full-time jobs directly, as well as hundreds of additional jobs via subcontracting.
- The company is building new wireless sites and extending LTE coverage to more than 99% of Albertans, and plans to connect more communities directly to its Telus Fibre network along with expanding its electronic medical records business.
- Now read Which Big Canadian Telecom Should You Consider For Dividends? »
Tue, Mar. 1, 5:12 PM
- Shaw Communications (SJR +2.6%) has closed on its C$1.6B acquisition of Mid-Bowline Group, and thus its purchase of Wind Mobile, launching its entry into the wireless business.
- Wind -- the No. 4 provider in the market -- is Canada's biggest non-incumbent wireless firm, with about 940,000 subscribers in Ontario, British Columbia and Alberta.
- Shaw had said earlier this month that it had fully committed financing for the deal, and it had been cleared by all major government boards. The company closed on a C$300M debt offering that could go toward helping fund the deal.
- Elsewhere in Canadian telecom: TU +1.5%; BCE +1.2%; RCI +2.2%.
Wed, Feb. 17, 4:51 PM
- Canadian broadcasters have cut jobs and programming in recent months amid hot digital competition, but Canada's regulator has sent a warning not to cut back on news content.
- The news comes ahead of key license renewals coming next year. "There were decisions made recently that were completely valid because there were no conditions of license," Canadian Radio-television and Telecommunications Commission Chairman Jean-Pierre Blais says. "The good thing about licensing renewals is that we have an opportunity to have a second look."
- BCE and Rogers Communications have each gone through cutbacks of hundreds of jobs. But Blais said companies need to serve an audience eager for quality journalism, and that the regulator would issue new rules for local TV news in June, ahead of beginning hearings on license renewals.
- Canadian TV: BCE flat, RCI +2.2%, SJR +1.6%, TU +0.5%.
Thu, Feb. 11, 12:41 PM
- Canadian telecom Telus (TU -1.7%) saw profits fall 16% in its Q4 results, buffeted by increasing competition and a slowdown in Alberta.
- Net income was affected by "significant restructuring and other costs, as well as an increase in depreciation and amortization expense reflecting, in part, TELUS' higher asset base from ongoing investments in its fiber-optic and 4G LTE networks."
- Revenues by segment: Wireless, C$1.79B (up 1.7%); Wireline, C$1.49B (up 4.3%).
- It added 62,000 wireless contract subscribers, below expectations. Average revenue per wireless user was C$63.74; wireless contract churn was 1.01%.
- For 2016, it's guiding to consolidated revenues of C$12.75B-C$12.875B, short of a consensus expectation for C$12.91B. It expects above-consensus capex of C$2.65B.
- Press Release
Thu, Feb. 11, 6:18 AM
Thu, Feb. 11, 6:18 AM
Dec. 30, 2015, 11:11 AM
- Telus (TU -0.9%) has settled with Canada's telecom regulator in a case relating to misleading advertising, agreeing to pay up to C$7.34M.
- The company's deal provides for rebates to customers after the Competition Bureau decided that Telus transmitted misleading advertisements for premium text messages, via pop-up ads, apps and social media.
Dec. 22, 2015, 11:51 AM
- Darren Entwistle, CEO of Telus (TU +0.5%), has bought C$10M worth of shares in combination with a family trust.
- The total purchase of 263,000 common shares was made on the open market. Entwistle paid an average of C$37.76 for 79,000 shares, and a family trust paid an average C$37.86 for another 180,000 shares.
- In Toronto, Telus shares are up to C$38.47.
- After the purchase, Entwistle personally owns 233,865 shares along with 392,517 restricted stock units -- worth about $24M.
Dec. 18, 2015, 3:14 PM
- Telus (NYSE:TU) is rebounding today, +2%, from a rough Thursday where it gave up 7.8% after news that rival Shaw was getting into the wireless market with a C$1.6B purchase of WIND Mobile.
- That's in spite of downgrades coming in today. Scotiabank and Howard Weil have each downgraded the shares to Sector Perform, from Outperform.
- RBC Capital made a similar downgrade and cut its price target on the firm, to C$41 from C$47. Shares in Toronto are up 1.8% to C$38.60, implying 6% upside in RBC's target.
- Desjardins reiterated its Hold rating on the stock in the wake of the news.
- Previously: Canadian telecoms off sharply following Shaw's entry to wireless (Dec. 17 2015)
TELUS Corp. operates as a telecommunications company. It provides telecommunication services and products, including wireless and wireline voice and data. The company operates through two segments: Wireless and Wireline. The Wireless segment offers data and voice, and equipment solutions. The... More
Industry: Wireless Communications
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