Cable / Telecom News

Glentel shareholders approve BCE acquisition


BURNABY – Glentel securityholders have overwhelmingly approved a plan that will see BCE buy the independent mobile retailer for $670 million.At a special meeting of shareholders held Monday, 99.99% of the votes cast by eligible securityholders (including 99.99% of the votes cast by disinterested shareholders) were in favour of the transaction, reads a news release issued by Glentel.  The deal, announced November 28, provides for, among other things, the acquisition by BCE of all of the outstanding common shares of Glentel and the purchase for cancellation by Glentel of all of the outstanding options to purchase common shares of Glentel.The acquisition...