Glentel completes 83% share purchase of AMT Group

BURNABY - Glentel has completed its 83% share purchase ($67.7 million CDN) of Sydney’s AMT Group which operates under the Allphones retail brand and is Australia's largest multi-carrier mobile phone retailer. "With the successful acquisition of the AMT Group, Glentel now operates in three distinct world markets and on two continents, with over 750 retail locations worldwide," said Tom Skidmore, Glentel 's President and Chief Executive Officer in a statement. AMT operates and manages over 210 stores in Australia, with annual sales of approximately AUD$162 million and over 400 corporate employees. As part of the agreement, the executive shareholders have retained...