Sprint's Shentel to acquire nTelos for $640m
Sprint wholesale partner Shenandoah Telecommunications (Shentel) is set to acquire fellow Sprint partner nTelos in a deal valued at approximately $640 million, including net debt.
Under the deal, Shentel will acquire all stock and operations of nTelos, including mobile network assets, subscriber accounts and retail stores.
Shentel will also upgrade the rest of nTelos’ network to 4G, and deploy an additional 150 cell sites to expand coverage.
The nTelos brand will be discontinued upon completion of the transaction and approximately 290,000 mobile retail customers will be converted to Sprint affiliated brands. Shentel will serve an additional 581,000 customers under the agreement.
“This is an exciting time for our company,” said Christopher French, president and CEO of Shentel. “This transaction more than doubles Shentel’s wireless customer base, enhances our presence in the Mid-Atlantic region by adding a highly complementary footprint and further strengthens our long standing partnership with Sprint.”