Telus completes stake sale in BPO unit

Toronto and New York listed telecommunications firm Telus Corp has completed the sale of a 35% stake in its BPO unit Telus International to Baring Private Equity Asia. The deal was completed after it was announced just a month ago. Telus said it received about CAD600m (USD458.8m) in proceeds from the deal. Telus International has more than 22,000 staff located in the Philippines, United States, Canada, Europe and Central America. Of this, more than 10,000 staff work in four offices in Manila. Telus Corp will continue to own 65% of its call center and outsourcing subsidiary, which is worth about USD1bn based on the price paid by Baring.