Telus offers to fully own digital unit for greater control of AI capabilities

Telus said on Thursday it intends to acquire the shares in its listed digital services subsidiary it does not currently own, as the Canadian telecom firm seeks greater control of the unit’s artificial intelligence capabilities.

The company has offered $3.40 per share to acquire the shares it does not own in Telus Digital, valuing the unit at $946.8 million, according to Reuters’ calculation. Telus currently holds about 57% of the digital unit’s outstanding shares directly and through its other units.