FCC approves Shentel plan to acquire nTelos
Posted 18 April 2016 12:00 AM by julia
Shenandoah Telecommunications Company (“Shentel”) (NASDAQ: SHEN) today announced that the Federal Communications Commission (FCC) approved Shentel’s proposed acquisition of NTELOS Holdings Corp., previously announced on August 10, 2015.
Shentel anticipates that the transactions will close within the next few weeks, subject to the remaining closing conditions.
This decision completes all reviews of the series of agreements between Shentel and Sprint and Shentel’s acquisition of NTELOS.
Shentel President and CEO Christopher E. French commented, “We are pleased to have received FCC approval for our acquisition of NTELOS and the related transactions with Sprint. With the final regulatory approvals received, we look forward to closing the merger and successfully integrating the two companies.
"This transaction more than doubles Shentel’s wireless customer base, enhances our presence in the Mid-Atlantic region by adding a highly complementary footprint and further strengthens our longstanding partnership with Sprint," he said. "With the close of this deal, Shentel will be positioned as one of the top six public wireless providers in the United States. We look forward to welcoming NTELOS employees to the Shentel team and to serving the NTELOS customers.”