Original article Total Telecom:Read More
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The Canadian operator has hired advisors to consider various options to strengthen the company’s balance sheet
Canadian telco Telus revealed last week that it has been engaging with advisors for “several months” in order to explore various options that would improve its financial position.
The operator currently owns and operates around 3,000 mobile towers across the country.
Analysts suggest that the tower business could be worth CAD$1–3 billion (USD$0.7–2.1 billion), suggesting that a minority stake could fetch up to CAD$1.5 billion (USD$1.05 billion). According to sources speaking to local news site The Globe and Mail, Telus will only consider offers towards the top of this range.
“We have engaged with advisors to explore the monetization of our tower infrastructure. 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,” said Darren Entwistle, TELUS President and CEO. “This initiative reflects TELUS’ broader commitment to long-term sustainable growth, as the company looks to strengthen its balance sheet as 100% of the proceeds would be used to pay down debt.”
While no bids have been revealed, Entwistle described the sale process as “well underway”.
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