Telus fixes date for single-class share conversion

Canadian quadruple-play telco Telus has released a schedule for removing its legacy dual-class ownership structure by consolidating its voting shares with its common shares on a one-for-one basis. On 4 February 2013 Telus will delist its approximately 151 million non-voting shares on the New York and Toronto stock exchanges, and by 11 February the company will have a single class of 326 million shares listed on both exchanges, CBC News reports. New York hedge fund Mason Capital abandoned its opposition to Telus’ share consolidation plan last week after the latest court ruling found in favour of Telus, which subsequently revealed that it and Mason had agreed to abandon all litigation related to the case.