Agreement ensures continuity of service and enhanced functionality for 280,000
VANCOUVER, Oct. 23, 2013 /CNW/ - TELUS has entered into an agreement with
Public Mobile to obtain 100 per cent ownership of the company. Pending
approval from the Competition Bureau following today's approval by Industry
Canada, the transaction will ensure continuity of service and enhanced
functionality for Public Mobile's 280,000 wireless customers.
"Following our review of strategic options for our organization, TELUS stood
out as the company most committed to strong customer service and innovation.
We are confident this is the right decision for our customers, our company,
our employees and our investors," said Alek Krstajic, Public Mobile CEO. "This
transaction is the best option to guarantee continued quality service for our
customers and to maximize the opportunity for our employees and investors."
Terms of the transaction have not been disclosed. Proceeds will be used to
satisfy Public Mobile's debt and equity investors. Public Mobile employees
will have the opportunity to review and secure roles with TELUS.
"We look forward to the successful completion of this transaction, and
migrating Public Mobile's customers onto TELUS' world-class 4G LTE network
while putting their spectrum to good use for millions of customers across
Canada," said Eros Spadotto, TELUS EVP of Technology Strategy and Operations.
"Public Mobile's PCS G block spectrum is part of a developing ecosystem that
is being driven by the insatiable demand consumers have for access to wireless
data applications. Major U.S. carriers are ensuring this spectrum is purposed
for the deployment of LTE networks and notably, the iPhone 5s and 5c have this
spectrum ecosystem incorporated within their chipset, consistent with the
trend across smartphone manufacturers to produce products that can be sold
globally with a lessened need for customization on a market-by-market basis.
Additionally, Public Mobile's G block spectrum aligns well with matching
spectrum TELUS holds in western Canada. The spectrum was acquired by Public
Mobile from the open part of the 2008 auction, not from that set aside for new
entrants, so is not subject to a transfer restriction."
Public Mobile has operations in Ontario and Quebec. Public Mobile customers
will now have their product offering evolve to also include the availability
of higher-end handsets offered by TELUS.
TELUS provides 4G wireless coverage to 99 per cent of Canadians from
Caution Regarding Forward Looking Statements
This news release contains statements about expected future events of TELUS
that are forward-looking. By their nature, forward-looking statements require
the Company to make assumptions and predictions and are subject to inherent
risks and uncertainties. There can be no assurance that the associated
benefits for TELUS shareholders of the transaction will be realized, or that
the expected regulatory and other approvals will be obtained. There is
significant risk that the forward-looking statements will not prove to be
accurate. Readers are cautioned not to place undue reliance on forward-looking
statements as a number of factors could cause actual future events to differ
materially from that expressed in the forward-looking statements. Except as
required by law, TELUS disclaims any intention or obligation to update or
revise forward-looking statements.
TELUS (TSX: T, NYSE: TU) is a leading national telecommunications company in
Canada, with $11.2 billion of annual revenue and 13.2 million customer
connections, including 7.7 million wireless subscribers, 3.3 million wireline
network access lines, 1.4 million Internet subscribers and 743,000 TELUS TV
customers. Led since 2000 by President and CEO, Darren Entwistle, TELUS
provides a wide range of communications products and services, including
wireless, data, Internet protocol (IP), voice, television, entertainment and
In support of our philosophy to give where we live, TELUS, our team members
and retirees have contributed more than $300 million to charitable and
not-for-profit organizations and volunteered 4.8 million hours of service to
local communities since 2000. Fourteen TELUS Community Boards lead TELUS'
local philanthropic initiatives. TELUS was honoured to be named the most
outstanding philanthropic corporation globally for 2010 by the Association of
Fundraising Professionals, becoming the first Canadian company to receive this
prestigious international recognition.
For more information about TELUS, please visit telus.com.
About Public Mobile
Formed in 2008, Public Mobile provides unlimited talk, text, Android data
services and Siren music to value conscious customers in Ontario and Quebec.
There are no contracts, no credit checks and no surprises. Public Mobile
launched its network service in May 2010 in Toronto and in June 2010 in
Montreal. Public Mobile is building its network from Windsor to Quebec City.
Public Mobile's licence covers an area reaching 19 million Canadians. Public
Mobile is owned by Thomvest Capital and Cartesian Capital Group. More
information about Public Mobile can be found at www.publicmobile.ca.
SOURCE TELUS Corporation
TELUS: Shawn Hall TELUS Social and Media Relations 604-619-7913
Darrell Rae TELUS Investor Relations 604-697-8192 email@example.com
PUBLIC MOBILE: Lisa Papas Corporate Communications 416-710-4432
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-0- Oct/23/2013 21:25 GMT
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