Telus invests for growth

Article Excerpt

TELUS CORP. $33.75 (Toronto symbol T.A; Shares outstanding: 335.6 million; Market cap: $11.3 billion; SI Rating: Above Average) plans to spend $500 million this year to improve the speed and reach of its wireless networks in British Columbia. This investment is nearly a quarter of the $2.05 billion that Telus plans to spend on upgrades in 2009. Most of the balance will go to improving its high-speed Internet services and installing equipment related to two large telecommunication contracts with businesses in Ontario and Quebec. Telus’s 2008 cash flow was $2.8 billion, or $8.76 a share. A faster network will help Telus attract and retain more cellphone customers. Telus is Canada’s third-largest wireless service provider, after Rogers and BCE. Moreover, it has to compete with new entrants in the wireless market, which should begin operations later this year. These improvements will also let the company offer more Internet services at greater speeds. This includes faster downloading of videos and music from the Internet. Telus…

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