Advertisement
Canada markets closed

  • S&P/TSX

    22,011.72
    +139.76 (+0.64%)
     

  • S&P 500

    5,070.55
    +59.95 (+1.20%)
     

  • DOW

    38,503.69
    +263.71 (+0.69%)
     

  • CAD/USD

    0.7320
    -0.0001 (-0.01%)
     

  • CRUDE OIL

    83.51
    +0.15 (+0.18%)
     

  • Bitcoin CAD

    90,750.47
    -623.40 (-0.68%)
     

  • CMC Crypto 200

    1,428.24
    +13.48 (+0.95%)
     

  • GOLD FUTURES

    2,336.70
    -5.40 (-0.23%)
     

  • RUSSELL 2000

    2,002.64
    +35.17 (+1.79%)
     

  • 10-Yr Bond

    4.5980
    -0.0250 (-0.54%)
     

  • NASDAQ futures

    17,686.75
    +80.00 (+0.45%)
     

  • VOLATILITY

    15.69
    -1.25 (-7.38%)
     

  • FTSE

    8,044.81
    +20.94 (+0.26%)
     

  • NIKKEI 225

    37,552.16
    +113.55 (+0.30%)
     

  • CAD/EUR

    0.6837
    +0.0001 (+0.01%)
     

Canada's Telus to divest stake in unit

Reuters
A woman uses a mobile device while walking past a Telus store in Ottawa February 19, 2014. REUTERS/Chris Wattie

(Reuters) - Telus Corp (Toronto:T.TO - News) (NYSE:TU - News), one of Canada's three big telecom providers, said it would sell a 35 percent stake in outsourcing service provider Telus International in a deal that values the unit at C$1.2 billion ($934.80 million).

The company said it would sell the business to Baring Private Equity Asia and use proceeds of about C$600 million to expand its wireless and wireline networks in Canada.

(Story refiles to add dropped letter in headline).

(Reporting by Anet Josline Pinto in Bengaluru; Editing by Shounak Dasgupta)