agreed to sell its Canadian enterprise services business division,
Williams Communications Canada
, but the financial terms of the deal weren't disclosed.
Telus plans to retain Williams Communications Canada's employees, and the company expects to close the merger May 31. The acquisition requires regulatory approval. Telus, which is based in Burnaby, British Columbia, is a telecommunications service provider.
In January, Williams Communications
signed a deal to sell its U.S. and Mexico enterprise services businesses to privately owned firm
in a bid to focus on its core broadband network businesses. The company expects to close the Platinum transaction March 31.
Earlier this month, Williams Communications, Tulsa, Okla., said it would
issue $1.4 billion of structured notes due 2004 and use the proceeds for capital spending on telecom assets.
New York Stock Exchange
trading, shares of Williams Communications, which provides voice, data, Internet and video services to communications service providers, gained 22 cents, or 2.3%, to $9.97. Telus lost 16 cents, or 0.8%, to $19.97.