Telus (T) is investing a total of $34.5 billion to expand its wireless networks in western Canada.
Specifically, the telecommunications company says it plans to invest $17.5 billion in British
Columbia and $17 billion in Alberta over the next four years as it bolsters its wireless internet
service in those two provinces.
Canada’s third-largest telecom company says the investments will be in network infrastructure,
operations, and spectrum, and will help deliver fifth generation (5G) wireless service to remote
communities.
The company expects 5,500 new jobs to be added across British Columbia and 8,500 new
positions to be generated in Alberta, primarily in construction, engineering and emerging
technologies.
Telus says the money is part of its commitment to invest $70 billion across Canada by 2026.
The investment announcement comes as the Competition Bureau pushes back against the
proposed merger between Rogers Communications (RCI) and Calgary-based Shaw
Communications (SJR).
Year to date, Telus stock has risen 7% to $31.75 a share.