Shenandoah Telecommunications agrees to acquire nTelos
EDINBURG, Va. (AP) - Shenandoah Telecommunications Co. says it has reached an agreement to acquire regional cellphone company nTelos Holdings Corp.
Edinburg-based Shenandoah Telecommunications announced the agreement Monday.
Financial terms of the sale weren't disclosed. As part of the acquisition, Shenandoah Telecommunications will acquire all stock and operations of nTelos, including wireless network assets, retail stores and subscriber accounts.
Shenandoah Telecommunications says about 290,000 nTelos wireless customers will be converted to Sprint affiliated accounts.
Waynesboro-based nTelos serves portions of Virginia, West Virginia, Maryland, North Carolina, Ohio, Pennsylvania and Kentucky.
Shenandoah Telecommunications says it is committed to investing more than $300 million to continue a 4G LTE upgrade and expand the existing nTelos wireless network. Upon completion of the transaction, Shenandoah Telecommunications plans to convert about 38 nTelos retail stores to the Sprint brand.
Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.