Telus ups offer for rival

26 Jul 2004

Canadian operator Telus has increased its offer for rival GSM operator Microcell to USD480 million. However, it is thought that less than 1% of Microcell’s shareholders have approved the hostile takeover bid, which is valid until 20 August. Furthermore, Microcell’s management claim to have received a number of enquiries from other operators, both Canadian and foreign. Microcell had 1.257 million subscribers at the end of March 2004, up from 1.245 million three months earlier.