0
Wireless

Bell to acquire Glentel for CAD 594 mln

Friday 28 November 2014 | 16:47 CET | News
Canadian operator Bell has agreed to buy Glentel, a Canadian distributor of multi-carrier mobile products, for CAD 594 million. Glentel shareholders will receive CAD 26.50 per share in a combination of cash and BCE shares. Including net debt and minority interest of CAD 78 million, the total enterprise value of Glentel is of about USD 670 million. Bell will fund the cash component with available liquidity and issue 5.6 million BCE shares to fund the equity component. Glentel's board of directors have approved the transaction. The Skidmore family, which owns 37 percent of the company, has

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Categories: Mobile & Wireless
Companies: BCE / Bell Mobility / Fido / Rogers Wireless / SaskTel / Virgin Mobile
Countries: Canada
::: add a comment

Add comment

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

BCE reports wireless-driven Q2 revenue, profit growth

Published 06 Aug 2015 16:55 CET | Canada
Canadian fixed and wireless operator BCE reported operating revenue up 2 percent to CAD 5.33 billion in the second quarter, ...

Canada's Competition Bureau clears Glentel sale

Published 06 May 2015 04:07 CET | Canada
Canada's Competition Bureau has cleared the acquisition by BCE of retailer Glentel. It also approved Bell's subsequent sale of a ...

Glentel revenues increase 33% in Q4

Published 20 Mar 2015 09:55 CET | Canada
Canadian mobile retailer Glentel reported fourth quarter 2014 sales of CAD 533.1 million, up 33 percent year-over-year thanks to ...

Rogers to drop injunction application to block Glentel buy

Published 27 Dec 2014 02:50 CET | Canada
Rogers Communications will withdraw its application to the Ontario Superior Court of Justice to obtain an injunction to block the ...

Bell to sell 50% stake in Glentel to Rogers

Published 27 Dec 2014 02:39 CET | Canada
BCE will divest 50 percent of its ownership stake in Glentel to Rogers, following the closing of Bell's acquisition of Glentel. ...

Glentel reacts to Rogers' opposition of Glentel sale to BCE

Published 18 Dec 2014 16:46 CET | Canada
Glentel has received notice of an Ontario Superior Court of Justice application by Rogers Communications Partnership to obtain an ...

CraveTV available for Bell Fibe TV, Bell Aliant FibreOP TV

Published 11 Dec 2014 22:05 CET | Canada
Canada's newest subscription on-demand video streaming service, Bell Media's CraveTV, is now available to Bell Fibe TV and Bell ...

Bell Mobility launches 4G service in Northwest Territories

Published 08 Dec 2014 19:14 CET | Canada
Bell Mobility has announced the launch of 4G wireless service in the Northwest Territories communities of Garneti, Nahanni Butte, ...