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

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