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Wireless

Sprint affiliate Shentel to buy Ntelos for USD 640 mln

Tuesday 11 August 2015 | 08:59 CET | News
Shenandoah Telecommunications (Shentel) has entered into a definitive agreement to acquire fellow US regional mobile operator Ntelos for approximately USD 640 million in cash. Shentel will assume Ntelos's net debt, which stood at USD 431 million at the end of June, adjusted for its expected obligations from winding down its Eastern Markets division in November. Ntelos shareholders will receive around USD 208 million in cash, or USD 9.25 per share, an approximately 60 percent premium over the last 30 days. The purchase will be financed with an expanded credit facility. The 'nTelos Wireless'

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Categories: Mobile & Wireless
Companies: Ntelos Wireless / Shenandoah Telecommunications / Sprint
Countries: United States
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