June 6, 2012 / 12:37 PM / in 6 years

Mason seeks to sell Telus stake, paper says

* Telus’s biggest shareholder shopping its stake-paper

* Report says dissident shareholder Mason hired Blackstone

TORONTO, June 6 (Reuters) - Telus Corp’s biggest shareholder, Mason Capital Management LLC, is looking for a buyer for its 19 percent stake in the Canadian telecommunications provider, according to Canada’s Globe and Mail newspaper.

The U.S.-based hedge fund has hired Blackstone Group LP to sell its $2 billion stake, the paper said, citing “a person familiar with the situation.”

Mason acquired the voting shares in a successful bid last month to block the Vancouver-based company’s plan to unify its dual-share structure, with non-voting stock converting into voting shares on a one-for-one basis.

Since then it has been unclear if Mason intended to hold on to the stake or look to dispose of it.

The Blackstone bankers have contacted as many as 30 interested groups worldwide, according to the paper.

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