Filed by TELUS Corporation
Pursuant to Rule 425
under the Securities Act
Subject Company:
Clearnet Communications Inc.
October 17, 2000
TELUS begins trading on the New York Stock Exchange
Burnaby, B.C. - In an historic step, TELUS Corporation non-voting shares began
trading on the New York Stock Exchange (NYSE) this morning under the ticker
symbol "TU".
The milestone follows the announcement that TELUS has made an offer to acquire
national Canadian wireless company Clearnet in the largest telecommunications
industry acquisition in Canadian history. The current expiry date of the offer
is October 19 at 12:01 a.m.
TELUS president and CEO, Darren Entwistle rang the opening bell this morning to
mark the first day of TELUS trading on the NYSE.
"By listing our non-voting shares on the NYSE, TELUS makes access to our shares
much easier for U.S. investors," said Entwistle.
A key part of the Clearnet acquisition involves the issuance of 53.9 million
TELUS non-voting shares as half-consideration in the deal. The NYSE listing
takes advantage of the incremental 91 per cent increase in non-voting shares
outstanding.
"TELUS has moved very quickly to meet its commitment to Clearnet shareholders
that we would list our shares on the NYSE," adds Entwistle. "I know TELUS's
growth strategy of becoming the Canadian leader in wireless data and Internet
services, combined with today's historic NYSE listing will appeal to new
investors and to Clearnet investors who may choose to hold or increase their
TELUS position when the deal is finalized."
TELUS Corporation (TSE: T, T.A; NYSE: TU) 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., TELUS is rapidly strengthening its position as a leading
national service provider. For more information about TELUS, visit
www.telus.com.
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Note: Photos and video are available via Associated Press/New York
(212/621-1902). The opening bell (starting at 9:25 a.m.) feed can be accessed by
fiber line at Waterfront #1630. The NYSE Daily News Feed is available from 2:30
p.m. - 2:45 p.m. (EST) via satellite at Telstar 6, Transponder 4, C-Band, Audio
6.2 and 6.8 and by fiber line at Waterfront #1630. A re-broadcast of the NYSE
Daily News Feed is also available following the closing bell feed (starting at
3:55 p.m.) and can be accessed by fiber line at Waterfront #1630.
For more information, please contact:
Doug Strachan Patricia Bowles John Wheeler
Media relations Corporate Communications Investor Relations
(604) 432-2663 (office) (604) 329-0039 (cellular) (780) 493-7310 (office)
1-800-892-8250 (pager)
