BRITISH COLUMBIA

Telus says single class of common shares to trade in New York on Monday

01/31/2013 02:03 EST | Updated 04/02/2013 05:12 EDT
VANCOUVER - Telus Corp. (TSX:T) says its single class of common shares will start trading in New York on Monday, and about one week later in Toronto.

The Vancouver-based telecom company fought a pitched battle with Mason Capital over its plan to consolidate its shares into a single class.

The New York-based hedge fund eventually dropped its court challenge of the plan.

Telus common shares will trade under the symbol TU on the NYSE starting Monday.

The company says it expects non-voting shares to be delisted in Toronto and to start trading as common shares under the T symbol "on or about" Feb. 11.

Mason had argued the voting shares should have been given a higher value than non-voting shares.

At one time, the hedge fund was the largest shareholder in Telus, but has since reduced its stake.