nTelos Closes Spectrum Sale

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nTelos Holdings Corp. completed the sale of its PCS wireless spectrum licenses that covers the eastern markets to T-Mobile US for $56 million in cash. The company announced last December that it would focus its business operations in the western markets, so they would be selling the spectrum assets that cover markets in Hampton Roads, Norfolk, and Richmond, Virginia. SNL Kagan reported, “Under the agreement, the company is leasing back a portion of the spectrum to continue serving customers at the eastern markets until it shuts down operations in those markets in November, according to an April 15 news release.”

April 17, 2015 |
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