Shenandoah Telecommunications Company announced that it's agreed a price of USD 1.95 billion cash for its mobile business with T-Mobile US. The operators have been in talks for nearly a year on the sale of the Shentel activities to T-Mobile after the latter exercised an option to buy the Sprint affiliate.
Three independent valuation providers helped determine the price, and Shentel and T-Mobile had previously agreed that the process would be binding. The companies expect to sign a definitive agreement on the sale this quarter and complete the deal in Q2, pending regulatory approval.
Shentel expects to realise an after-tax gain of USD 1.5 billion from the sale.
