[Burnaby, CANADA] TELUS Corporation and Clearnet Communications have
created Canada's largest wireless company. The companies announced
today that all of the conditions of the TELUS Offers to Purchase have
been satisfied and TELUS will take up and pay for the Clearnet shares
that have been deposited.
The TELUS Offers resulted in an overall tender of 98.5 percent of
Clearnet's shares, consisting of 97.9 percent of the Class A shares,
99.97 percent of the Class B shares, and 100 percent of the Class C
and D shares.
"The completion of the Clearnet acquisition since our announcement of
our intent speaks volumes about the speed and focus with which TELUS
will be operating as we move forward with our growth strategy," said
Darren Entwistle, president and chief executive officer.
"In the 60 short days since the announcement, we met every one of our
commitments. We successfully marketed the deal, secured four
investment grade debt ratings, raised $6.25 billion in bank
syndicated financing, listed our Non-Voting shares on the New York
Stock Exchange and met the conditions of the Offers."
The new TELUS Mobility will have more than two million customers,
more than 4,000 employees, a license to provide coverage to 31
million potential customers and existing digital network coverage for
more than 21 million potential customers from coast to coast.
Telecom Decision CRTC 98-2::
( Clearnet); Corporation of the Township Euphrasia; fONOROLA; Government of 31. TCI argued that the Commission accepted in TELUS Communications Inc.
http://www.crtc.gc.ca/archive/eng/Decisions/1998/dt98-2.htmHOME |
Vice-President (Operations)::
Preliminary budget, finalizing the Kingston Transit contract, of renegotiating the Clearnet Telus mic-phone. deal the constables have previously enjoyed.
http://engsoc.queensu.ca/static/summer/2004/AMS/Wk3.pdfHOME |
The combined company will become Canada's largest wireless company in
terms of annual revenues, customer growth, and wireless spectrum
position.
More InternetNews.com coverage related to this story is available at:
- Wysdom, TELUS Offer Wireless
Services, October 16, 2000
- TELUS Mobility, Audiovox Launch
Phone with Wireless Internet Access, September 4, 2000
- TELUS, Clearnet to Become Canada's Largest Wireless Co., August 21, 2000
- TELUS, Blockbuster, Enron Trial
Streamed Video Service, July 21, 2000
- TELUS Mobility, Bank of Montreal
Introduce Veev, June 5, 2000
- Clearnet Installs 3G-ready Lucent Wireless Infrastructure, May 31, 2000
 Stocks End Week On A Winning Note
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