Telus: nothing on the Verizon

Verizon is following the herd and selling off its little piece of heaven here in Canada. What's the point of holding it, I suppose, when you can't get a really substantial (i.e., controlling) position anyway. Tough break for Telus that took 4% of the wind out of its sales yesterday. The TorStar story (Verizon looking for a U.S. focus) had this bit of context:

Texas-based SBC recently sold two big blocks of BCE Inc., parent of Bell Canada, this year to raise more than $500 million while AT&T Wireless sold its 34 per cent stake in Rogers Wireless to majority owner Rogers Communications Inc. for nearly $1.8 billion.

Posted by Grayson at December 2, 2004 08:31 AM