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VANCOUVER — Telus Corp. says it’s selling a 49.9 per cent stake in a newly spun-out wireless tower operator to La Caisse for $1.26 billion as it also reported its second quarter income fell from last year.
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The telecommunications company says the new operator called Terrion will be based in Montreal, and that the partial sale of the assets will go toward deleveraging.
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The sale comes as Telus reported a net loss of $245 million for the three months ending June 30, compared to earnings of $221 million in the same quarter last year, as it took a $500 million impairment of goodwill related to Telus Digital.
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Adjusted net income worked out to $342 million, or 22 cents per diluted share for the period, down from $366 million, or 25 cents per share last year.
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The mean analyst estimate had been for earnings of 23 cents per share, according to LSEG Data & Analytics.
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Consolidated operating revenue totalled $5.08 billion in the quarter, up from $4.97 billion in the quarter last year.
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