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Telus offers to fully own digital unit for greater control of AI capabilities
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Telus offers to fully own digital unit for greater control of AI capabilities
Jun 12, 2025 6:41 AM

June 12 (Reuters) - Telus ( TU ) said on Thursday it

intends to acquire the shares in its listed digital services

subsidiary it does not currently own, as the Canadian telecom

firm seeks greater control of the unit's artificial intelligence

capabilities.

The company has offered $3.40 per share to acquire the

shares it does not own in Telus Digital, valuing the

unit at $946.8 million, according to Reuters' calculation. Telus ( TU )

currently holds about 57% of the digital unit's outstanding

shares directly and through its other units.

This is a 15% premium to the last closing price of the

subsidiary's U.S.-listed stock. U.S.-listed shares of the

digital unit are down more than 24% this year, severely lagging

the parent company whose U.S. listing is up nearly 19% this

year.

The move underscores Telus' ( TU ) push for more control of the

digital unit, which helps businesses adopt AI and develop data

strategies amid a worldwide push to harness the technology.

"Our proposal to fully acquire Telus Digital reflects our

belief that closer operational proximity... will enable enhanced

AI capabilities and SaaS transformation across all lines of our

business," Telus ( TU ) CEO Darren Entwistle said.

Telus ( TU ) said last month it is investing more than C$70 billion

($51.40 billion) in Canada over the next five years to expand

its network infrastructure in the country, which would be

focused around launching two new AI data centers.

Barclays is serving as Telus' ( TU ) financial advisor.

($1 = 1.3619 Canadian dollars)

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