Latest news with #TelusCorp
Yahoo
2 days ago
- Business
- Yahoo
Telus International shares surge following buyout proposal from parent Telus Corp
-- Shares of Telus (NYSE:TU) International (TSX:TIXT) surged more than 24% on Thursday after receiving an unsolicited acquisition proposal from majority owner Telus Corp (TSX:T). The Canadian telecom giant offered $3.40 per share in cash for the remaining equity it does not already own in the digital services provider. Telus Corp currently holds 57.4% of Telus International's total outstanding shares and close to 87% of all voting rights. Following the announcement, Telus Corp's own shares edged up 0.7% in trading. The acquisition is subject to several conditions, including due diligence, negotiation of definitive agreements, and regulatory clearances in Canada and the U.S. Telus International emphasized that no binding agreement has been signed and that there is no guarantee the transaction will be finalized. A special committee of independent directors will be formed to review and assess the proposal, according to the company. "Given the structural challenges and uncertain demand backdrop, along with the preexisting partnership and ownership of Telus Corp, we expect the proposed acquisition to close without many hurdles," said Maggie Nolan, an analyst at William Blair. She maintained a Market Perform rating on the stock, adding, "The macroeconomic backdrop has pressured growth prospects in the near term, and we expect that Telus Digital's margins will remain under pressure due to challenges with the recent cost optimization initiatives, pricing pressure from competitive forces, and a mix shift into more AI-related solutions." Management at Telus Corp. sees the transaction as a strategic maneuver that could align digital strategy and capital allocation across the broader Telus ecosystem. The company aims to integrate Telus Digital's capabilities to strengthen initiatives across its telecom, healthcare, and agricultural units. While the offer reaffirms Telus Corp's commitment to accelerating digital innovation and operational synergy, governance processes related to shareholder fairness are expected to play a pivotal role. Telus International reiterated that all strategic alternatives remain under consideration. Related articles Telus International shares surge following buyout proposal from parent Telus Corp GameStop bets on trading cards, stock continues slide FTSE 100 today: shares rise as U.K. GDP falls; Pound nears $1.36; Tesco gains Sign in to access your portfolio
CTV News
2 days ago
- Business
- CTV News
Telus Corp. proposes to buy back full ownership of Telus Digital
Telus Corp. headquarters is seen in downtown Vancouver. THE CANADIAN PRESS/Darryl Dyck VANCOUVER — Telus Corp. has proposed to buy back full ownership of Telus International (Cda) Inc. in a proposal that values the company it spun off in 2021 at about US$940 million. Under the non-binding indication of interest, Telus says it will pay $3.40 per share in cash or Telus shares or a combination of both for the shares in the company which operates as Telus Digital that it does not already hold. Telus International shares, which closed at $2.96 on the New York Stock Exchange (NYSE) on Wednesday, were up 71 cents US at US$3.67 in trading Thursday. The shares were up 95 cents at C$5.00 in trading on the Toronto Stock Exchange (TSX). The company, which provides IT services and customer service to global clients, went public in 2021 with an initial public offering of $25 per share. Telus already owns 57.4 per cent of the company's outstanding shares including 92.5 per cent of the multiple voting shares and 6.1 per cent of the subordinate voting shares, making its offer worth about $400 million. Telus chief executive Darren Entwistle says the proposed deal will yield meaningful benefits for Telus Digital and Telus customers and investors. This report by The Canadian Press was first published June 12, 2025.
Calgary Herald
11-05-2025
- Business
- Calgary Herald
Telus, Bell, Rogers blame immigration policies for mobile subscriber slowdown
For years, Canada's top telecom providers rode a wave of high immigration, collectively adding hundreds of thousands of new mobile phone subscribers most quarters. Those days are over. Article content Canada's three biggest wireless firms — BCE Inc., Rogers Communications Inc. and Telus Corp. — all cited tighter immigration rules when explaining to investors over the past two quarters why subscriber growth has slowed. The trio recorded fewer than 54,000 net new mobile subscribers in the first quarter, the lowest number in four years. Article content Article content Two years ago, the country's population grew 3.1 per cent, a rate not seen since the 1950s, largely due to an influx of foreign students and temporary workers. But last year, as it became clear the housing supply and the health care system were straining from this growth, the federal government enacted measures meant to stem the tide. Article content Article content As a result, Canada plans to admit nearly 20 per cent fewer permanent residents this year than its target in 2024, as well as fewer foreign students. Article content BCE saw a small decline in net mobile phone subscribers in the first quarter, which it said was partly due to 'slowing population growth attributable to government immigration policies.' The company's revenue is falling, which was a consideration in its decision to slash its dividend by over half — the first cut in 17 years. Telus also said reduced immigration hampered its mobile subscriber growth when it reported earnings on Friday. And Rogers, which has the largest number of wireless customers, reported a weak quarter of growth on that metric and also cited 'slowing population growth as a result of changes to government immigration policies.' Article content Article content The Canadian government has capped foreign-student visas in order to shrink the country's temporary immigrant population, which saw explosive growth after the COVID-19 pandemic. International students, as well as temporary foreign workers, contributed to much of Canada's population increases in 2022 and 2023. This, in turn, supported the large gains in new mobile subscribers in the third quarters of those years. Article content In 2023, Canada's population growth was among the fastest in the world. That's no longer the case — growth in 2024 fell to 1.8 per cent and may turn negative in 2026 if the government sticks with its efforts to limit the number of non-permanent residents it allows in. Article content
Hamilton Spectator
09-05-2025
- Business
- Hamilton Spectator
Telus reports Q1 profit up from year ago, raises quarterly dividend
VANCOUVER - Telus Corp. raised its quarterly dividend as it reported its first-quarter profit rose compared with a year ago. The company says it will pay a quarterly dividend of 41.63 cents per share, up from 40.23 cents per share. The increased payment came as Telus said it earned $321 million in net income attributable to common shares or 21 cents per diluted share for the quarter ended March 31. The result compared with a profit of $127 million or nine cents per diluted share in the first quarter of 2024. On an adjusted basis, Telus says it earned 26 cents per share in its latest quarter, the same as a year earlier. Operating revenue and other income totalled $5.06 billion, up from $4.93 billion. This report by The Canadian Press was first published May 9, 2025. Companies in this story: (TSX:T)
