Telus's largest shareholder opposes dual-share merger plan

A plan by Telus to abolish its dual-share structure has been met with opposition from its largest shareholder, Mason Capital Management. The Canadian operator is seeking to convert non-voting shares into voting stock on a one-for-one basis, but the New York-based investor – which owns 18.7% of Telus’s outstanding common shares and a much smaller number of non-voting shares – says it intends to vote against the proposal. Telus needs 66.6% support in each class to win the vote, which is due to take place at Telus’s annual shareholder meeting on 9 May.