Telus considering selling minority stake in wireless tower network

Telus may sell tower stake

Photo: The Canadian Press

Telus Place in Montreal, Thursday, November 14, 2024. THE CANADIAN PRESS/Graham Hughes

Telus says it's considering selling a minority stake in its portfolio of wireless towers as part of its efforts to strengthen its balance sheet.

President and CEO Darren Entwistle said in a press release that monetizing the company's tower network would help enhance its network operations.

He said the proceeds would be used to pay down debt.

Chief financial officer Doug French said the potential sale is one of many opportunities Telus is considering as part of its work to reduce its debt load.

Telus did not provide an estimated dollar value for the potential sale.

The company said it's committed to transparency with stakeholders throughout the process.