Canada merger watch: Telus wants Fido
May 15 2004 - 03:56 PM ET | In The News
The Toronto Star is
reporting Canadian wireless carrier Telus has offered to purchase rival Microcell Telecommunications Inc. (who operates Fido). Fido is Canada's smallest carrier, the offer was for just $1.1 billion Canadian. Stock in Microcell soared from $10.45 to $31.70 on the Toronto Stock Exchange after the news.
The merger would make Telus the largest carrier in Canada, taking the spot currently occupied by Bell Mobility.
