EXHIBIT 99.3 [HIGHFIELDS LETTERHEAD] January 16, 2002 BY FACSIMILE (514) 982-7677 Computershare Trust Company of Canada, as successor in interest to Montreal Trust Company of Canada 1800 McGill College Avenue 5th Floor Montreal, Quebec H3A 3K9...Highfields Capital Management Lp • January 17th, 2002 • Radiotelephone communications
Reference is made to that certain Unit Indenture by and among Telesystem International Wireless Inc. (the "Company"), ClearWave N.V. ("ClearWave") and Montreal Trust Company of Canada, dated as of January 15, 2001 (the "Unit Indenture"), providing for the issue of units of the Corporation (the "Units"), each consisting of one Class A subordinate voting share of ClearWave and one option to purchase one subordinate voting share, without par value (the "Subordinate Shares") of the Company by surrender of the Unit. All capitalized terms used herein and not defined shall have the meaning ascribed thereto in the Unit Indenture.
