News Summary
Quebecor has publicly declared its decision not to sell its cellphone towers, contrasting with recent shifts by other telecom companies like Telus and Rogers. CEO Pierre Karl Péladeau explained during the company’s earnings call that selling infrastructure to raise cash is not part of Quebecor’s strategy, a decision aimed at maintaining strong future cash flows. This follows Telus’s sale of nearly half its cell tower business to Quebec’s pension fund manager for $1.26 billion, a shift that mirrors popular strategies in the U.S. and Europe. While some analysts view these selloffs as financially smart, Quebecor remains unconvinced, emphasizing the risk of future costs associated with leasing back sold infrastructure.
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