07:56 AM EDT, 08/01/2025 (MT Newswires) -- Telus ( TU ) said Friday it will sell a 49.9% stake in its new Canadian tower operator, Terrion, to La Caisse for $1.26 billion Canadian dollars ($908.7 million).

The deal establishes Terrion as Canada's largest dedicated wireless tower company with about 3,000 sites and is expected to reduce Telus' ( TU ) net debt by the same amount, the company said.

Terrion will lease tower capacity to Telus ( TU ) under an eight-year agreement with renewal options, while Telus ( TU ) keeps 50.1% ownership and consolidates its results, it said.

The partnership enables wholesale access and co-location for other carriers to support national wireless competition, Telus ( TU ) added.

Regulatory approvals and closing are expected by the end of Q3, TELUS ( TU ) said.