Telus sells 35% stake in BPO unit to Baring

Canadian national telecommunications firm Telus Corporation is selling a 35% stake of its international call center and outsourcing subsidiary to Baring Private Equity Asia for about USD600m. Telus has agreed to sell Telus International, which currently employs about 22,000 people in the US, the Philippines, Europe, Canada and Central America, to the Asian private equity firm. Telus International was formed in 2005 to provide customer service, IT and BPO services to companies in various industries. Telus Corp will continue to own 65% of the subsidiary, which is worth about USD1bn based on the price paid by Baring. Baring Private Equity Asia is one of the largest independent alternative asset management firms in Asia, with a total committed capital of over USD10bn.