Telus Corp. plans to turn itself into income trust

CBC VANCOUVER (CP) - Telus Corp. (TSX:T) said Monday it has won board approval for a plan to turn the telecommunications giant into an income trust, sending the company's stock sharply higher in morning trading. Shares in Telus gained $8.87, almost 17 per cent, to $61.42 with just under two million traded on the Toronto Stock Exchange. The move would make it the first big Canadian telecom company to turn itself into a trust and transform it into an entity distinctly different from its peers, Telus said.