Filed by TELUS Corporation
Pursuant to Rule 425
under the Securities Act
Subject Company:
Clearnet Communications Inc.
TELUS Logo Clearnet Logo
October 19, 2000
TELUS anticipates it will be in a
position to acquire Clearnet shares
Burnaby, B.C. and Scarborough, Ontario - TELUS Corporation (TSE: T, T.A; NYSE:
TU) and Clearnet Communications Inc. (TSE: NET.A; NASDAQ: CLNT) jointly announce
that, while calculations are still being completed, the conditions to the Offers
to Purchase appear to have been satisfied and as a result, TELUS anticipates
that it will be in a position to take-up and pay for the Clearnet shares that
have been tendered in accordance with the terms of the Offers. A formal
announcement to this effect together with details and the pro ration factor is
expected to be made before 9:00 a.m. (Eastern time), October 20, 2000.
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 digital 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.
Clearnet Communications Inc. is a leading Canadian wireless communications
company that operates two state-of-the-art digital wireless networks, Clearnet
PCS and Mike. Clearnet now serves more than 700,000 clients across Canada.
Founded in 1984 and public since 1994, Clearnet is an Canadian controlled and
managed company. For more information, please visit www.clearnet.com.
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For more information, please contact:
John Wheeler Robert Mitchell
TELUS Investor Relations Clearnet Investor Relations
(780) 493-7310 (office) (416) 279-3219
Doug Strachan Mark Langton
TELUS Media Relations Clearnet Media Relations
(604) 432-2663 (office) (416) 684-3454
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 risks associated with: the
likelihood of the completion of the Offers to Purchase; 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.
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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.
