Glentel acquires AMT, Australia's largest mobile phone retailer for $73.4 million

BURNABY- Canada’s Glentel Inc. has purchased an 83% stake in telecommunications retailer AMT Group for $73.4 million (U.S.), which operates and manages over 210 stores nationally across Australia. AMT Group is a leading independent multi-carrier mobile phone and telecommunications retailer in Australia, widely recognized under the "Allphones" brand. Allphones represents major carrier brands OPTUS, Virgin Mobile and Vodafone. The company has a long history of providing customers with value, choice and expertise in a multi-carrier environment located primarily in shopping malls. As part of the agreement, the executive shareholders will retain an equity stake in AMT Group post the transaction...