TELUS Pursues New Investment Strategies to Enhance Wireless Networks and Connectivity

TELUS Invests in Future Connectivity

In its ongoing dedication to providing top-notch connectivity and state-of-the-art technology to Canadians, TELUS is actively exploring new investment avenues to boost its wireless network capabilities. With discussions underway to potentially sell a minority stake in its extensive tower portfolio, TELUS aims to strengthen its balance sheet and enhance its operational efficiency.

According to TELUS President and CEO Darren Entwistle, the company has been engaging advisors for several months regarding various strategies that could involve monetizing their tower infrastructure. "If we can execute this within our desired economic framework, it will greatly improve the efficacy of our network operations," he stated. This proposed move is part of a comprehensive plan to ensure TELUS remains at the forefront of connectivity in Canada.

Focus on Sustainable Growth

The initiative to monetize the tower network aligns with TELUS's broader focus on sustainable long-term growth. By pledging that 100% of the proceeds from any transaction will be allocated to debt repayment, TELUS is seeking financial flexibility that empowers it to achieve a targeted leverage ratio of three times net debt to EBITDA by 2027. This commitment also includes halting the discounted dividend reinvestment program over the same timeline, which indicates a strategic shift towards operational optimization.

Executive Vice-President and Chief Financial Officer Doug French expressed the potential benefits of these actions, noting that it represents a significant opportunity to generate value for various stakeholders, including customers, investors, and the broader community. French emphasized the goal of ensuring continued operational excellence while delivering innovative solutions to customers.

Transparent Communication and Stakeholder Engagement

Although no definitive decisions have been made regarding the sale of a minority stake, TELUS stresses the importance of transparent planning and open communication as it navigates these strategic considerations. The company remains committed to keeping stakeholders informed as it evaluates opportunities that could enhance its financial performance and service offerings.

TELUS is renowned for its exceptional customer service, boasting a remarkable revenue of over $20 billion annually and more than 20 million customer connections. Beyond facilitating connectivity, TELUS is dedicated to leveraging its technology to create positive societal outcomes. The company has significantly impacted health and wellness through its TELUS Health brand, which has improved millions of lives worldwide via innovative health technologies.

Additionally, TELUS’s commitment to social responsibility is evident in its corporate values. As part of their philosophy, "give where we live," the company and its employees have contributed $1.8 billion to charitable initiatives since the year 2000, reinforcing TELUS as a leader in social capitalism.

In conclusion, TELUS is taking significant strides to enhance its wireless infrastructure and ensure continued innovation in its services. By exploring strategic investments and maintaining a commitment to financial prudence, TELUS is poised for a brighter, more connected future for all Canadians.

For more information about TELUS and their latest initiatives, visit telus.com or follow @TELUSNews on X and @Darren_Entwistle on Instagram.