In a surprise move, Telus (TSX:T) has withdrawn from the Canadian Wireless Telecommunications Association (CWTA), the telecom has announced.
The change is effective immediately.
"Telus' decision to withdraw from the CWTA reflects our desire to continue progressing our highly differentiated strategy and our unique "customers first" approach," Telus said in a statement. "We are grateful for Bernard Lord's [president and CEO of the CWTA] excellent leadership. He effectively managed a wide diversity of opinions. Bernard has contributed significantly to the development of our industry."
Telecom giants Rogers and Bell remain members of the CWTA. Last year, the association saw withdrawals by three wireless startups – Public Mobile (which is now owned by Telus), Wind Mobile and Mobilicity.
"CWTA is understandably disappointed with this decision but respects the position of Telus to undertake a more distinctive advocacy approach outside of CWTA," said CWTA spokesperson Marc Smith, saying that Telus has made a valuable contribution to the wireless industry over the years, furthering its growth, innovation and consumer services.
"CWTA notes the decision by Telus communicated to CWTA includes Telus' interest in participating on a collaborative basis with some of the Association's numerous and valuable consumer and corporate social responsibility initiatives."
"…We look forward to our continued collaboration with [Lord] and his team on initiatives of joint interest.
As of press time, shares of Telus were trading at $39.02, a decrease of 0.54%.
