Sprint, Shentel To Absorb nTelos Wireless
Sprint and Shentel announced an agreement Monday in which affiliate Shentel will acquire Sprint wholesale partner nTelos Wireless and spin off some of its assets to Sprint. In return, Sprint will pay Shentel up to $252 million over approximately five…
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to six years. The deal must be approved by regulators, including the FCC, Sprint said. Upon closing, Sprint gets nTelos spectrum assets covering 5.4 million people in parts of Kentucky, Maryland, North Carolina, Ohio, Pennsylvania, Virginia and West Virginia, Sprint said. “Shentel will terminate the existing network wholesale agreements between Sprint and nTelos, continue to upgrade the nTelos network to 4G LTE and expand coverage in the areas with at least an additional 150 sites over the next three years, using spectrum acquired by Sprint and made available to Shentel as part of the transaction.” Shentel will also have access to Sprint’s 2.5 GHz spectrum within its footprint, Sprint said. “Sprint and Shentel have a long successful relationship and this announcement will only make it stronger,” said Michael Schwartz, Sprint senior vice president-corporate and business development. “With this agreement, Sprint will grow its customer base, improve its financial performance, acquire spectrum in important markets and improve and expand 4G LTE coverage to Sprint and nTelos customers.”