GLENTEL completes portion sale of tower business assets
BURNABY, BC, April 10, 2013 /CNW/ - GLENTEL Inc. (TSX:GLN) announced today SBA Communications Corporation (SBA) completed the purchase of a portion of GLENTEL's tower business assets. The value of the transaction is approximately $3.0 million. GLENTEL has agreed to sell additional tower business assets to SBA, with an expected close by June 30, 2013.
Celebrating its 50(th) anniversary in 2013 and based in Burnaby, BC, Canada, GLENTEL (TSX: GLN), is the largest independent multi-carrier mobile phone retailer in Canada and Australia. In the United States, GLENTEL operates two of the six National Premium Retailers for Verizon Wireless. GLENTEL is a leading provider of innovative and reliable wireless communications services and solutions, offering a choice of network carrier and wireless or mobile products to consumers and commercial customers.
GLENTEL's brands - GLENTEL Wireless, WIRELESSWAVE, WAVE SANS FIL, Tbooth wireless, la cabine T sans fil, WIRELESS etc., SANS FIL etc., Mac Station, iStation, Diamond Wireless, Wireless Zone, and Allphones - span three countries and two continents. The Company employs over 3,800 employees and operates more than 1,180 locations including more than 340 locations in Canada located in retail malls, Costco Wholesale stores, and business centres; more than 630 retail locations in the United States; and more than 200 retail locations in Australia. In addition, Target Canada has licensed GLENTEL to open and operate in 2013 more than 120 mobile communications sales and service kiosks within its stores, under the brand Target Mobile®.
Forward-Looking Statements Statements in this release relating to matters that are not historical fact are forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. Factors that could cause or contribute to such differences include, but are not limited to, general economic conditions, changes in technology, reliance on third-party manufacturing, managing rapid growth, limited intellectual property protection, and other risks and uncertainties described in GLENTEL's public filings with securities regulatory authorities.
NO STOCK EXCHANGE, SECURITIES COMMISSION, OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.
For a copy of GLENTEL's annual report or for additional information visit www.glentel.com or www.sedar.com.
SOURCE: Glentel Inc.
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CO: Glentel Inc. ST: British Columbia NI: TLS MNA
-0- Apr/10/2013 12:00 GMT