TELUS Corp has made a major move in the Canadian wireless market, partnering with La Caisse to form a new company called Terrion. La Caisse will acquire a 49.9% stake in Terrion for $1.26 billion, marking a significant investment in the country’s wireless tower infrastructure.
This partnership comes as TELUS Corp reported a decline in its second-quarter profit compared to the previous year. However, the company’s operational and financial results remain strong, with industry-leading growth in total mobile and fixed customers. This growth can be attributed to the increasing demand for bundled services and the expansion of TELUS’s TELUS PureFibre connectivity.
TELUS’s diversified portfolio of businesses has also shown resilience, with operating revenue and adjusted EBITDA growth of 2% and 4%, respectively. This demonstrates the company’s ability to adapt to changing market conditions and capitalize on emerging opportunities.
Key highlights of TELUS’s second-quarter results include:
- Industry-leading total mobile and fixed customer growth
- Strong demand for bundled services
- Expansion of TELUS PureFibre connectivity
- Operating revenue growth of 2%
- Adjusted EBITDA growth of 4%
This partnership with La Caisse is a strategic move by TELUS to strengthen its position in the Canadian wireless market. By forming Terrion, the company is well-positioned to capitalize on the growing demand for wireless connectivity and infrastructure.