Canadian cellular telephone manufacturer NovAtel Telecommunications Ltd, Calgary, Alberta has gone into a tailspin after markets for its phones, particularly in the US and the UK, disappeared, and Robert Bosch GmbH has pulled out of its peliminary agreement to buy a 50% stake in the company for $95m: NovAtel is currently owned by Telus Corp Ltd, formerly the Alberta Government Telephones Commission, and Telus has laid waste the board room in the wake of news that what were expected to be strong profits will instead be a loss in the second half the chairman, president and group controller have all been fired; the Alberta Province government has also had to inject some $18m into Telus to make up the shortfall in the profits from NovAtel that were forecast in the Telus offer for sale prospectus.
