Telus Corp. proposes to buy back full ownership of Telus Digital
VANCOUVER – Telus Corp. has proposed to buy back full ownership of Telus International (Cda) Inc. in a proposal that values the company it spun off in 2021 at about US$940 million.
Under the non-binding indication of interest, Telus says it will pay US$3.40 per share in cash or Telus shares or a combination of both for the shares in the company which operates as Telus Digital that it does not already hold.
Telus International shares, which closed at US$2.96 on the New York Stock Exchange on Wednesday, were up 71 cents US at US$3.67 in trading Thursday. The shares were up 95 cents at C$5.00 in trading on the Toronto Stock Exchange.
The company, which provides IT services and customer service to global clients, went public in 2021 with an initial public offering of US$25 per share.
Telus already owns 57.4 per cent of the company's outstanding shares including 92.5 per cent of the multiple voting shares and 6.1 per cent of the subordinate voting shares, making its offer worth about US$400 million.
Telus chief executive Darren Entwistle says the proposed deal will yield meaningful benefits for Telus Digital and Telus customers and investors.
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This report by The Canadian Press was first published June 12, 2025.
Companies in this story: (TSX:T, TSX:TIXT)
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