Vancouver's Telus Corp. (TSX:T), Canada's second-largest telecommunications firm, plans to spend $650 million in Alberta this year to expand and improve its broadband services in the oil-rich province.
The investment aims to expand the reach and speed of its advanced wireline and wireless broadband services in Alberta in support of the launch of an enhanced version of Telus TV.
Powered by Microsoft Mediaroom, the new platform will let customers with a single personal video recorder - which will be able to record and play back shows on up to six TVs in a home - record three programs simultaneously from any room and pause or record in one room and continue from a different room.
The capital expenditure will also expand Telus' wireless broadband network, which will provide data transfer speeds of up to 21 megabits per second and reach 93% of Canadians.
Telus' share price range during the past week: between $35.70 and $36.39; 52-week high: $37.33; 52-week low: $29.12.