TELUS makes surprise CAD1.1 billion bid for Microcell

14 May 2004

Vancouver-based TELUS Corp has launched an unsolicited CAD1.1 billion offer for the country’s fourth largest mobile operator Microcell Telecommunications. The TELUS offer of CAD29 for each Class A and Class B share is currently under consideration, although industry watchers predict it could spark rival bids from Canada’s largest telco Bell Canada (BCE) and Rogers Communications-backed Rogers Wireless Communications. Purchasing Microcell, which is headquartered in Montreal and has around 1.26 million subscribers, would leapfrog TELUS above BCE as the leading player in the country’s mobile market.