The Vancouver-based telecom entered into an agreement to sell 51.3 million common shares at $25.35 each through a syndicate of underwriters. (The Logic)

Talking point: If the underwriters exercise an over-allotment option of about 7.7 million common shares, the gross proceeds from the offering would rise to about $1.5 billion. Telus plans to use the money, in part, to accelerate building out its fibre network in Alberta, B.C. and eastern Quebec, as well as its national 5G network. The accelerated rollout comes shortly after competitor Rogers announced a friendly takeover of Calgary-based Shaw. Reliable internet connection has become increasingly important amid the pandemic, and inequities in access have become more apparent with Indigenous communities and low-income households on the lacking side of the digital divide. The need for high-speed internet has prompted telecom and government investment. As my colleagues Martin and Catherine reported, the Quebec and Ontario governments both made broadband-infrastructure promises in their budgets this week.