Glentel Inc GLNIF

Fire Sale in the Business Division

[Waterboy4]

In reading today's announcement one wonders what is next. Interesting enough Tom Skidmore makes specific mention that the companies frequency holding are not part of this deal. Perhaps the next announcement will be the sale of their Spectrum holdings. I wonder how the sale of assets is being viewed by their lenders? The Diamond loan is secured by the companies assets. Based on their financials they own very little in the way of real estate as 99% of their locations are leased.

All in all good on you Glentel. A couple of more stokes of the pen and the dog that was the Business division will finally, long overdue, be put to death!!!

[Robert40]

Now Glentel will be leasing these towers back from the buyer. They will be moving to digital but that also requires towers. Glentel will have frequencies and Black boxes (radios) left for sale. This business of Business Centres from 1963 vanished overnight . These were prime locations and most valuable assets of GLN. I am sure professional team from SB communications will turn them highly

[PRObono]

The business division has never made real profit since it's inception in 1963, not even during the economic boom leading up to 2008!  They are doing the right thing to fire sale everything and concentrate on their paying customer base until they sell their frequencies.  They should be getting a hefty price for their frequencies!  FINALLY getting rid of that albatross around