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Sector Update: Telecom; Telus Launches New Mobile Device Management Solution, Glentel to Issue $200 Mln Senior Notes

Telecom shares were mostly higher in afternoon trading. The S&P/TSX Telecom Services index was up 0.2%.

Telus (T.TO): -0.4%

Glentel (GLN.TO): -0.2%

Rogers Communications (RCI-B.TO): +0.6%

BCE (BCE.TO): +0.3%

Manitoba Telecom Services (MBT.TO): +0.3%

In corporate news, Telus unveiled a new cloud-based mobile device management solution, made for enhancing the security of mobile devices for Canadian businesses without having to invest in infrastructure. The telecommunications company said this cloud-based solution eliminates the need for on-premise hardware, while pre-configured user profiles simplify enrolling, configuring and updating devices, freeing up a company's IT resources.

Meanwhile, Glentel plans to issue $200 million in senior unsecured notes due 2019 through a syndicate of underwriters, led by BMO Nesbitt Burns and CIBC World Markets, in a private placement transaction.

The provider of wireless communications services will use the net proceeds from the offering for general corporate purposes.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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