The CreditWatch listing with negative implications on Vancouver, B.C.-based Telus Corp., reflects the uncertainty regarding the company's bid for Microcell Telecommunications Inc. (Microcell). Telus launched a C$1.1 billion cash bid to acquire Microcell in May 2004, and has extended that bid a number of times, with the current bid expiring on Sept. 20, 2004. Microcell is currently the sole Canadian wireless acquisition target; therefore, there could be interest in the company from other parties. Microcell is working with other interested parties, in addition to Telus, to maximize shareholder value. To date, there have been no other bids made; nevertheless, uncertainty remains surrounding the final price that might be paid by Telus. In addition, there are regulatory and other uncertainties, which
