Mason Capital Management LLC (“Mason”) today issued the following
statement in response to the diversionary and baseless complaint filed
today by TELUS Corporation (TSX:T; TSX:T.A; NYSE: TU) with the British
Columbia Securities Commission regarding Mason:
“It is unfortunate that TELUS continues to try to divert attention from
the real issue, which is the value of control. Mason has made numerous
disclosures and fully complied with its disclosure obligations, which
make our position abundantly clear. We question TELUS' motivations in
submitting a complaint to regulators shortly before its proposal is to
be voted upon and making its complaint public before the regulators have
had the opportunity to even consider or respond.”
Mason intends to vote against TELUS’ announced proposal to convert all
of its Non-voting shares into Voting shares on a one-to-one basis. Mason
believes TELUS’ proposal does not reflect the superior value of the
Voting shares for which shareholders have historically paid a premium.
Mason Capital is a New York based investment fund with offices in New
York, London and San Francisco and has been in business since 2000.
Mason Capital has a long history of investing in Canada. It is the
largest shareholder and is represented on the board of directors of ATS
Automation Tooling Systems, a TSX-listed company.