Canada' Telus to divest stake in unit

Reuters News
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Posted: May 05, 2016 6:14 AM

(Reuters) - Telus Corp <T.TO> <TU.N>, one of Canada's three big telecom providers, said it would sell a 35 percent stake in outsourcing service provider Telus International in a deal that values the unit at C$1.2 billion ($934.80 million).

The company said it would sell the business to Baring Private Equity Asia and use proceeds of about C$600 million to expand its wireless and wireline networks in Canada.

(Reporting by Anet Josline Pinto in Bengaluru; Editing by Shounak Dasgupta)