Telus CEO Expects Continued Boom in Canadian Wireless Market

Press Release - May 4, 2007

Darren Entwistle, the CEO of Telus Corp., predicted at a recent conference that the current boom in Canada’s wireless market would run for another six years. Entwistle refused to comment, however, on whether Telus would make a bid for rival telecom giant, Bell Canada Enterprises.

Speaking at Telus’ annual general meeting in Montreal, Mr. Entwistle said that it would be “inappropriate, unethical, and contrary to shareholders’ interest” to comment publicly on the developing BCE deal, leading most analysts to believe that he had no interest in getting involved.

As a recent editorial in the Financial Post points out, a bid for BCE would be a radical departure from Telus’ largely successful strategy of focusing on Canada’s fast-growing wireless sector.

“I think our shareholders are best served by making sure that we stay focused on our core business, as we’ve done all the way along,” Entwistle was quoted as saying. “That’s the best thing we can do for the health of our company.”

FP columnist, Sean Silcoff adds that purchasing BCE would “leave Telus unable to pursue enticing value-creating opportunities now at hand, such as increasing dividends, buying back stock, or even selling itself.”