Filed by TELUS Corporation
Pursuant to Rule 425
under the Securities Act
Subject Company:
Clearnet Communications Inc.
October 17, 2000
TELUS gearing up for closing of Clearnet acquisition
Burnaby, B.C. - TELUS Corporation (TSE: T, T.A; NYSE: TU) today announces that
it anticipates being in a position to take up the shares of Clearnet
Communications Inc. (TSE: NET.A; NASDAQ: CLNT) in accordance with its Offers to
Purchase all of the shares of Clearnet without interference from any regulatory
authorities. All shares of Clearnet to be tendered to the Offers to Purchase of
TELUS must be received by the applicable depositary or forwarding agent by
midnight (local time) on October 18, 2000, to be validly tendered to the Offers
to Purchase.
TELUS Corporation is one of Canada's leading telecommunications companies
providing a full range of communications products and services that connect
Canadians to the world. The company reported $5.9 billion in revenues in 1999
and is the premier service provider in Western Canada. TELUS also provides
voice, data, Internet, advertising and wireless services to Central and Eastern
Canada. With the purchase of QuebecTel and a $6.6 billion offer to acquire
national wireless service provider Clearnet Communications Inc. by the end of
October, TELUS is rapidly strengthening its position as a leading national
service provider. For more information about TELUS, visit www.telus.com.
For more information, please contact:
Doug Strachan
Media relations manager
(604) 432-2663 (office)
1-800-892-8250 (pager)
[email protected]
Forward Looking Statements
Some statements in this document look forward in time and deal with other than
historical or current facts for TELUS. Such statements are qualified in their
entirety by the inherent risks and uncertainties surrounding future
expectations, including but not limited to, the likelihood and timing of
completion of the acquisition of Clearnet by TELUS; the risks associated with:
general business conditions in Canada and the companies ' service territories in
Canada; competition on wireless services (cellular), local and long distance
services, data and internet services and within the Canadian telecommunications
industry generally; adverse regulatory action; technological change; taxation;
availability of sufficient funding; and generation of operating cash flow
sufficient to provide financial viability. For additional information with
respect to certain of these and other factors, see the reports filed by TELUS
with Canadian provincial securities commissions and the United States Securities
and Exchange Commission.
TELUS disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.
Investors and security holders are advised to read the offer to
exchange/prospectus, the solicitation/recommendation statement on Schedule 14D-9
and other offer documentation regarding the transaction to be filed with
Canadian provincial securities commissions and the United States Securities and
Exchange Commission, as they will contain important information.
Security holders may obtain a free copy of the offer to exchange/prospectus
(when available) and other related documents filed by TELUS at the SEC's Web
site at www.sec.gov and the SEDAR Web site at www.sedar.com. When available, the
offer to exchange/prospectus and the other documents may also be obtained from
TELUS, Attention: TELUS Corporation Investor Relations, Floor 30-D,10020-100
Street, Edmonton, AB T5J 0N5.
