Subject: [NEXTEL-1] Telus increases its takeover bid

From: NEXTEL-1
Date: Mon, 26 Jul 2004 11:17:44 -0400

Telus increases its takeover bid

Canada's Telus has increased its offer for rival GSM operator,
Microcell.  Telus is now offering US$840 million for the company in its
hostile takeover attempt. Telus said that less than 1% of Microcell's
shareholders had agreed to the takeover, which Microcell's management
has been opposing.

The offers, as extended, will be open for acceptance until 9 p.m.,
Toronto time, on August 20, 2004, unless further extended or withdrawn.
The offers were previously scheduled to expire at 9 p.m., Toronto time,
on July 22, 2004.

As of the close of business on July 22, 2004, 288 class A restricted
voting shares, 15,785 class B non-voting shares, 71,917 Warrants 2005
and 51,080 Warrants 2008 of Microcell had been deposited to the offers
and not withdrawn from the offers.
Microcell itself says that it has recieved inquiries from other
interested bidders, both Canadian and overseas. The Company has also
provided bid documentation to potential interested parties to facilitate
alternatives to the Telus offers.

Posted to the site on 26-Jul-04
http://www.cellular-news.com/story/11531.shtml

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