VANCOUVER – As expected, Telus said that it will not proceed with its conversion to an income trust. The company made the announcement after the close of trading on Friday saying, "in light of the federal Minister of Finance's announcement on October 31, 2006 of a new tax plan that would increase the level of taxation on income trusts, Telus has re-evaluated the company's proposal announced on September 11, 2006 to reorganize in its entirety into an income trust," says the press release."Telus management and board of directors believe that it is no longer in the best interests of the...
