TELUS Corp. (T.TO: Quote,TU: Quote) announced that Independent proxy advisory firm Institutional Shareholder Services Inc or ISS has reiterated its recommendation to institutional clients that they vote in favour of a proposed transaction that would eliminate TELUS' dual class share structure.
ISS originally issued the recommendation in a report issued April 23 . It has now updated its report after considering a dissident proxy circular issued by Mason Capital, a New York hedge fund seeking to defeat the proposal for its own short-term profit at the expense of other TELUS shareholders, and rejecting their position.
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by RTT Staff Writer
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