BCE Inc. To Acquire GLENTEL - Quick Facts

(RTTNews) - BCE Inc. (BCE, BCE.TO) and GLENTEL Inc. (GLN.TO) announced they have entered into an agreement whereby BCE will acquire all of the issued and outstanding shares of GLENTEL, the Canadian-based multi-carrier mobile products distributor, in a deal valued at approximately $670 million. The consideration will consist of a combination of 50% cash and 50% in BCE common shares.

Based in Burnaby, BC, Canada, GLENTEL is a provider of wireless communications services and solutions, offering a choice of network carrier and wireless or mobile products and services to consumers and commercial customers. GLENTEL is an 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 employs over 4,670 employees and operates approximately 1,400 locations.

Bell will acquire all of GLENTEL's approximately 22.4 million common shares, for approximately $594 million. GLENTEL shareholders may elect to receive either $26.50 in cash, or 0.4974 of a common BCE share, for each GLENTEL common share. Including net debt and minority interest of approximately $78 million, the total enterprise value of GLENTEL is approximately $670 million.