Bell, Rogers agree to split Glentel

TORONTO and MONTREAL – Bell and Rogers have reached an agreement that will see the two rivals jointly own independent mobile retailer Glentel's Canadian retail distribution outlets.Bell and Rogers will each own 50% of Glentel shares representing 50% of Glentel's retail operations, reads a statement issued by Bell. In exchange, Rogers has agreed to pay in cash to Bell 50% of the Glentel transaction value following the successful closing of Bell's Glentel acquisition, and will withdraw its recently filed court application for an injunction. Bell said on November 28 that it planned to buy the independent mobile retailer for $670 million. Headquartered...