VANCOUVER, BC, March 26,
2025 /PRNewswire/ - In its ongoing commitment to
bring world-leading connectivity and cutting-edge technology to
more Canadians, TELUS has been engaging advisors for several months
on a number of balance sheet strengthening items, including
evaluating a potential plan to sell a minority stake in our world
class portfolio of wireless towers.
"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."
"This initiative would provide TELUS the financial flexibility
to pay down debt and, importantly, accelerate progress on our
recently announced path to de-leveraging, including achieving a
leverage target ratio of 3 times net debt to EBITDA by 2027, while
concurrently turning off our discounted dividend reinvestment
program over the same period," said Doug
French, Executive Vice-President and Chief Financial
Officer. "This represents a distinct opportunity to create
significant value for our stakeholders, including our customers,
investors, communities and Canadians coast-to-coast-coast.
Importantly, this represents only one of many monetization
opportunities we are actively considering as part of our
de-leveraging playbook which will support continued leading
operational and financial performance, and our ability to deliver
innovative and superior solutions to our customers."
While no final decisions have been reached, these considerations
underscore TELUS' commitment to prudent strategic planning and
sustainable growth. The company remains committed to maintaining
transparent communications and keeping its stakeholders informed as
it evaluates these opportunities.
About TELUS
TELUS (TSX: T, NYSE: TU) is a
world-leading communications technology company, generating over
$20 billion in annual revenue with
more than 20 million customer connections through our advanced
suite of broadband services for consumers, businesses and the
public sector. We are committed to leveraging our technology to
enable remarkable human outcomes. TELUS is passionate about putting
our customers and communities first, leading the way globally in
client service excellence and social capitalism. Our TELUS Health
business is enhancing 76 million lives worldwide through innovative
preventive medicine and well-being technologies. Our TELUS
Agriculture & Consumer Goods business utilizes digital
technologies and data insights to optimize the connection between
producers and consumers. Guided by our enduring 'give where we
live' philosophy, TELUS, our team members and retirees have
contributed $1.8 billion in cash,
in-kind contributions, time and programs including 2.4 million days
of service since 2000, earning us the distinction of the world's
most giving company. For more information, visit telus.com or
follow @TELUSNews on X and @Darren_Entwistle on Instagram.
Investor Relations
Robert
Mitchell
ir@telus.com
Media Relations
Steve
Beisswanger
steve.beisswanger@telus.com
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SOURCE TELUS Communications Inc.
