On Oct. 13, 2004, Standard&Poor's Ratings Services removed Telus Corp. from CreditWatch on the expiry of Telus' bid for the shares of Microcell Telecommunications Inc., and the company's announcement on Oct. 12, 2004, that it no longer intends to pursue the acquisition of Microcell. The ratings, including the 'BBB' long-term corporate credit ratings on Telus Corp. and wholly owned subsidiary Telus Communications Inc. (collectively Telus) were affirmed. The outlook is stable. Telus launched a C$1.1 billion cash bid to acquire Microcell in May 2004, and had extended its bid a number of times. On Sept. 20, 2004, Rogers Wireless Inc. made a higher bid of C$1.4 billion, which has the support of Microcell's management and board, and is
