Glentel buys AMT's 210 Retails stores I must contratulate Mr. Thomas Skidmore's for buying largest multi carrier mobile phone retailer with 210 retail stores in Australia.
https://www.stockhouse.com/news/canadianreleasesdetail.aspx?n=8624005
After adding Glentels 543 existing store's 330+213 (https://www.glentel.com/en/newsroom/) Glentel will have 753 stores internationally. I admire and salute them on account of following.
1. It is best use of cash and cash equivalents in hand (over 60 Million dollars)
2. It immediately invests Business centre's 12 million dollars that was loosing money to most profit generating retail business that Skidmore's are really good at and TELUS was trying to copy them.
3. Geographically Glentel become's real International company reaching beyond noth america
4. It saves taxes by immediately investing business centre network dollar's before December 31st tax deadline.
5. Being multi-carrier it's 4th quarter sales and profit's should sky rocket.
6. Now it has same number of store's in USA and Australlia while retaining 50% plus in Canada.
7. It is a very attractive potential takeover target with lowest share price, forward P.E. ratio of less than 8, experienced retail management (since 1990's) and always profitable, dividend paying company. IMHO it is worth between 45 to 50 dollar's compared to similar wireless companies . Again this is the best use of cash and shareholder's were looking forward to investing this cash to productive use.
8. Business centre's supported the first batch of retail stores, once again business centres have proved that they can support retail division at their cost. good job, keep it up. Go GLN gO!!!!!!!