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NEWS FLASH
2000 - 30 (August 2000) ACQUISITIONS, MERGERS & AGREEMENTS TELUS and Clearnet Create New Wireless Co. In a move to become a national wireless player, TELUS Corp. has offered to acquire Clearnet Communications Inc. for $4.6 billion ($3.1 billion U.S.). The combined company would offer its customers access to a competitive and integrated mix of new and improved services, including bundled services, and new data and Internet options. "This transaction will give us immediate and national wireless coverage, which will serve as the foundation for the data and Internet strategy we are about to unveil," said Darren Entwistle, President and CEO of TELUS. Clearnet’s and TELUS’s wireless operations both offer compatible digital PCS services based on the same CDMA digital wireless technology. Clearnet would also bring its Mike network, a multifunctional wireless tool aimed at the business market. Both companies would bring strategic partnerships with American wireless carriers: Clearnet has an alliance with Nextel Communications, Inc., giving its Mike two-way wireless radio customers access to U.S. markets Inc., and TELUS has a partnership with Verizon through GTE Corps. giving it roaming cellular access in the U.S. The transaction is expected to close in October, subject to an undisclosed break-up fee. For more information: www.telus.com/clearnet/pressroom/pressreleases/qpr_aug21.html Mobileinfo Comments and Advisory: Telus needs national coverage to compete with Bell Mobility and Rogers! Note: This news release may contain forward-looking statements. Readers should take appropriate caution in developing plans utilizing these products, services and technology architectures. All trademarks used in this summary are the property of their respective owners. NEWS
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