Mason Capital loses appeal, BC Supreme Court approves Telus share exchange

VANCOUVER - Mason Capital lost its appeal Tuesday in its ongoing battle with Telus to thwart the carrier’s plans to move to a single class of common shares. The Supreme Court of British Columbia approved Telus’ proposal to exchange its non-voting shares for common shares on a one-for one basis. In a 125-page written decision, the court concluded that the exchange was fair and reasonable and rejected New York hedge fund Mason Capital’s arguments and appeals made in opposing the proposal. “The arrangement has arisen through a robust process that has been independently and favourably reviewed. The benefits to be achieved...