Telus says proxy advisory firm ISS still backs its fight with Mason Capital

VANCOUVER - Telus says it continues to receive the backing of proxy advisory firm Institutional Shareholder Services Inc. (ISS) in its ongoing battle fight with U.S. hedge fund Mason Capital. Over the weekend Mason issued a news release that claimed the ISS had reversed its previous position and was no longer in favour of Telus’ share consolidation plan. “The ISS report recognizes - and agrees with - Mason’s core arguments: that the voting shares are of greater value than the non-voting shares, and that Telus’ proposed one-for-one exchange ratio dilutes voting shareholders’ voting rights and transfers the premium they have...