BCE Buying Glentel

CBJ – BCE Inc. has announced a decision to purchase its mobile products distributor, Glentel Inc., for about $594 million in cash and stock.

The acquisition by Canada’s largest telecommunications company will result in shareholders at Glentel reeiving $26.50 per share.

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