Bell to buy The Source stores in Canada

It's unlikely you'll be able to pick up a Rogers wireless phone or a digital cable box at The Source much longer.

Bell has announced plans to buy the consumer electronics retailer to enhance the growth of its wireless, digital TV, internet and home phone services.

The deal should be finalized by the third quarter of this year.

No price has been disclosed.

"(The) acquisition supports Bell's strategic imperatives to accelerate wireless and leverage momentum in services like Bell TV, Bell Internet and Bell Home Phone," said George Cope, president and CEO of Bell and BCE.

The Source plans to carry all of Bell's consumer services at its more than 750 stores across Canada, and continue to operate as a consumer electronics store.

The Source operated as Radio Shack in Canada until 2005.

Bell shares closed down 2.54 per cent Monday at $24.20.