Canadian operator Telus has no intention of making a play for Bell Canada (BCE), despite analysts' speculation to the contrary.
When the much-publicised BCE take-over plotted by the Ontario Teachers Pension Plan (OTPP) fell through earlier this month, analysts had expected that Telus may resume its own efforts to acquire BCE.
Not so, according to Telus CEO Robert McFarlane, who told Reuters the company is not working on an acquisition.
"We're just focused on executing our business plan," he said.
Telus had planned to make an offer for BCE last year, but was beaten to the punch by OTPP.
BCE and Telus are two of Canada's three largest operators, so any business deal between them would likely be subject to strict regulatory scrutiny.
Telus meanwhile has released its latest quarterly projections. The company expects revenue to increase by up to 6% despite the economic crisis.
EBITDA is expected to be between C$3.7-3.9 billion ($3-3.1 billion), on profits of around $8.1 billion.