Telus exploring selling minority stake in cell towers

Telus’s CEO Darren Entwistle confirmed Wednesday that the telco is “evaluating a potential plan” to sell a minority stake in its wireless towers to pay down debt. The Globe and Mail, citing anonymous sources and documents, reported that the company has hired TD Securities to roadshow a 49.9-per-cent stake in its portfolio of 3,000 towers. “We have engaged with advisors to explore the monetization of our tower infrastructure,” Entwistle said in a press release. “If we are able to do this within the parameters of our desired economics, it would enhance the efficiency and effectiveness of our network operations. This...