Canada’s Telus to invest $17 billion in Alberta on network infrastructure
2022.05.17 18:27
FILE PHOTO: A sign for Telus Communications in Toronto, Ontario, Canada December 13, 2021. REUTERS/Carlos Osorio
(Reuters) – Telus (NYSE:TU) Corp said on Tuesday it would invest $17 billion in network infrastructure, operations and spectrum across Canada’s Alberta over the next four years as the telecoms company seeks to expand its wireless networks.
Telus, one of Canada’s largest telecoms company, has also committed to invest $70 billion overall across Canada by 2026. The company said the expansion is expected to add 8,000 jobs in Alberta, it added.
With increasing competition, telecom companies are accelerating the development of networks in rural areas of Canada and expanding their coverage to enter markets that have few providers.
Telus Corp’s investment also comes at a time when rival Rogers (NYSE:ROG) Communications Inc is seeking to buy Shaw Communications (NYSE:SJR) Inc in a $16 billion deal to create the country’s second-largest telecom company.
In 2019, Telus had said https://www.reuters.com/article/telus-alberta-idUSL3N26F42J it would invest C$16 billion ($12.09 billion) in Alberta over the next five years to improve access to healthcare technology and prepare the province for high-speed 5G network.
