November 28, 2014 / 2:08 PM / in 3 years

Canada's BCE to buy its mobile products distributor for C$594 mln

Nov 28 (Reuters) - BCE Inc, Canada’s largest telecommunications company, said it would buy its mobile products distributor, Glentel Inc, for about C$594 million ($520 million) in cash and stock.

Glentel’s shareholders will receive C$26.50 per share, which represents a 108 percent premium to its Thursday close on the Toronto Stock Exchange.

Including net debt and minority interest of about C$78 million, the deal is worth about C$670 million.

$1 = 1.1417 Canadian dollars Reporting by Sneha Banerjee in Bangalore; Editing by Maju Samuel

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below