BCE Inc, Canada's largest telecommunications company, said it would purchase mobile phone retailer Glentel Inc for about C$594 million ($520 million) in cash and stock.Glentel's shareholders will get C$26.50 per share, which represents a 108 percent premium to its Thursday close on the Toronto Stock Exchange.Glentel's shares were trading at C$26.15 on Friday morning.Including debt and a minority interest, the deal is valued at about C$670 million.
BCE Inc. is a communications company, providing residential, business and wholesale customers with a range of solutions to all their communications needs. Shares of BCE remained unchanged at $47.04. In the past year, the shares have traded as low as $40.60 and as high as $47.99. On average, 890915 shares of BCE exchange hands on a given day and today's volume is recorded at 207955.
BCE Inc. is a communications company, providing residential, business and wholesale customers with a range of solutions to all their communications needs. Shares of BCE traded higher by 0.94% or $0.5/share to $53.83. In the past year, the shares have traded as low as $44.75 and as high as $54.24. On average, 1607300 shares of BCE.TO exchange hands on a given day and today's volume is recorded at 403546.
GLENTEL Inc. is a Canada-based company. It operates in three segments: Retail Canada Division, Retail US Division and Business Division. Shares of GLN traded higher by 103.76% or $13.23/share to $25.98. In the past year, the shares have traded as low as $9.31 and as high as $14.74. On average, 29452 shares of GLN.TO exchange hands on a given day and today's volume is recorded at 601888.
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