Transaction establishes Terrion as Canada's largest dedicated wireless tower operator enabling wholesale access and co-location in support of national wireless competition in Canada 

TELUS will retain majority ownership of Terrion as proceeds used to accelerate deleveraging 

La Caisse brings a combination of international telecom expertise, long-term capital and an active asset management approach to support Terrion's growth strategy

VANCOUVER, BC and MONTREAL, Aug. 1, 2025 /CNW/ - TELUS Corporation ("TELUS") today announced that it has entered into a definitive agreement with La Caisse, a global investment group and Canada's second-largest pension fund, who will acquire a 49.9% equity interest in each of Terrion LP ("Terrion") and its general partner, Terrion GP Inc., for approximately $1.26 billion. Terrion, a newly created tower operator headquartered in Montreal, will hold passive macro wireless infrastructure assets, commonly known as cell towers, that TELUS is carving out of its business. TELUS will retain full ownership and control of all active network components and security systems, ensuring continued leadership in mobile network coverage, reliability and superiority.  This transaction underscores the company's progress toward robust and long-term sustainable growth, as the proceeds will be used to accelerate deleveraging. The transaction values Terrion at over $2.5 billion and is expected to reduce TELUS' net debt by approximately $1.26 billion, or by approximately 0.17x of TELUS' current net debt-to-EBITDA ratio.