The Globe and Mail reports in its Thursday edition that Telus has narrowed the list of buyers for a stake in its cellphone-tower network to three large domestic asset managers, including two major pension funds, in a transaction potentially worth $1.2-billion. A triple-bylined item led by Irene Galea writes that Telus is in second-round talks to sell a 49-per-cent interest in its 3,000-tower network. Ontario Municipal Employees Retirement System (OMERS) and the infrastructure arm of Brookfield Corp. are among the final bidders, while B.C. Investment Management Corp. (BCI) is also at the table. The talks are continuing, and there is no certainty a final deal will be reached. Telus plans to spin out the towers as a new company called Terrion. All three fund managers have significant telecom infrastructure holdings. Telus put the stake in its towers up for sale this winter as part of a strategy to reduce debt. The telco hired TD Securities to run the process, which the bankers called "Project Air." Telus has told investors and analysts its target for announcing a transaction is the end of October, and the company wants to close the transaction by the end of the year. Former Telus executive Eros Spadotto will head Terrion.