BCE Completes $594 Million Acquisition of GLENTEL
May 20, 2015
594.00 Million CAD
On May 20, 2015, BCE Inc. completed its acquisition of GLENTEL Inc. Under the terms of the transaction, BCE acquired all of GLENTEL’s common shares for total consideration of approximately C$594 million. GLENTEL shareholders were entitled to elect and receive either C$26.50 in cash, or 0.4974 of a common BCE share, for each GLENTEL common share pursuant to the formula set forth in the arrangement implementing the transaction. BCE also divested 50% of its ownership interest in GLENTEL to Rogers Communications Inc.
Headquartered in Burnaby, British Columbia, GLENTEL is a provider of innovative and reliable wireless communications services and solutions, offering a choice of network carrier and wireless or mobile products and services to consumers and commercial customers.
Headquartered in Montreal, Québec, BCE is a leading Canadian communications company, providing a comprehensive and innovative suite of broadband communication services to consumers and business customers through the Bell Canada and Bell Aliant brands. BCE’s shares are listed on the TSX under the symbol “BCE” and on the NYSE under the symbol “Bell”.
McCarthy Tétrault represented the special committee of the board of directors of GLENTEL with a team consisting of Clemens Mayr, Cam Belsher, Patrick Boucher, Pavan Jawanda, Laure Fouin, Gabrielle Richards, Amanda Laren, Oliver Borgers, Grant Buchanan, Geoff Hall and Atrisha Lewis.