Telus raises around USD350m selling stake in international outsourcing unit

Canadian carrier Telus Communications has announced an agreement to sell a 35% stake in its 100%-owned business process, IT and customer services subsidiary Telus International to Baring Private Equity Asia, in a deal which values the unit at approximately USD1 billion. Telus intends to retain a long-term majority ownership position in Telus International, which was launched in 2005 and provides customer services, IT and business process outsourcing to the telecommunications, utilities, high tech, gaming, finance, retail, e-commerce, travel, logistics and health care sectors, with more than 22,000 team members located in the US, Canada, the Philippines, Europe and Central America.