CORRECTED - CORRECTED-UPDATE 1-Telus to build new wireless network

(Corrects headline and first paragraph to clarify that C$1.9 billion is Telus' wireless capex forecast for 2008 and not the amount to be spent on the new network)

(Recasts; adds details, share movement)

Oct 10 (Reuters) - Telus Corp (T.TO), Canada's No. 2 phone company said it will build a new wireless network to be launched by 2010 to help it transition to 4G technology, and entered into a network-sharing agreement with BCE Inc (BCE.TO).

Initial capital expenditures for the new network are included in the company's 2008 wireless expenditure forecast of about C$1.9 billion ($1.63 billion), the company said.

Nokia Siemens Networks and Huawei will provide the equipment for the new network, which will support fourth-generation technology as it becomes available.

The company also said it has entered into a network sharing deal with the Canadian communications company BCE Inc (BCE.TO) that will help Telus to lower cost and widen coverage.

The company expects total wireless capital requirements for 2009 to be temporarily higher than historic levels at about C$750 million.

Shares of the company were trading down 31 Canadian cents at C$35.90 in morning trade on Toronto Stock Exchange.

($1=1.163 Canadian Dollar) (Reporting by Shrutika Verma in Bangalore)