Wednesday, May 6, 2015

Glentel Inc. - GLN.t

Glentel Inc. - GLN.t is the largest independent multicarrier mobile phone retailer in Canada and Australia.

In the United States, GLENTEL operates two of the six National Premium Retailers for Verizon Wireless. GLENTEL is a leading provider of innovative and reliable wireless communications services and solutions, offering a choice of network carrier and wireless or mobile products to consumers and commercial customers.

On May 5, 2015 the company released News

"BURNABY May 5, 2015 – GLENTEL Inc. (TSX: GLN) today announced that Canada’s Competition Bureau has issued a “no action letter” with regard to GLENTEL’s previously announced acquisition by BCE Inc. (TSX, NYSE: BCE; Bell). The Bureau has also issued a “no action letter” for the subsequent sale by Bell of 50% of GLENTEL to Rogers Communications Inc. (TSX: RCI.A, RCI.B; NYSE: RCI; Rogers).

With these letters, the regulatory conditions under the plan of arrangement entered into by GLENTEL and Bell (the Arrangement), and the subsequent agreement between Bell and Rogers, have been fulfilled.

Headquartered in Burnaby, BC and operating as a standalone entity with independent management, GLENTEL will continue with its strategy of offering competing dual-carrier wireless brands to Canadian consumers and business customers. Outside Canada, GLENTEL owns, operates, and franchises approximately 734 retail locations in the United States, as well as 141 points of sale in Australia and the Philippines.




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