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A pedestrian is reflected in the window of a Telus store while using a mobile phone in Ottawa February 11, 2011.© Chris Wattie / Reuters/Reuters

Telus Corp. says the non-Canadian ownership of its common shares is down, leading it to suggest that Mason Capital may have reduced its stake in the company.

Telus has been embroiled in a fight with the U.S. hedge fund over a plan to convert the telecommunication company's non-voting shares into voting shares.

Mason has opposed the plan and demanded holders of the company's voting shares receive a premium for their shares.

The investment firm disclosed in August that it held 18.7 per cent of Telus's common shares.

Telus said Friday the non-Canadian ownership of its shares was about 15 per cent as of Nov. 16 compared with 32.59 per cent at June 29.

A spokesman for Mason Capital declined to comment.