According to the Financial Times’ ‘FT Alphaville’ portal, regional US wireless operator nTelos Wireless has emerged as a takeover target for Shenandoah Telecommunications (ShenTel). The regional telco, which offers wireless services to portions of a four-state area between Pennsylvania and Virginia – as a Sprint Corp ‘PCS Affiliate’ – has reportedly put together a USD200 million bid for Virginia-based nTelos. Sources claiming direct knowledge of the negotiations have informed FT Alphaville that a price of USD9.25 per share has been agreed, representing a significant premium on Tuesday’s closing price of USD6.20.
As previously reported by TeleGeography’s CommsUpdate, last month nTelos completed the sale of its PCS wireless spectrum licences covering its ‘Eastern Markets’ to T-Mobile US. The telco announced the spectrum sale on 2 December 2014, as part of a strategic refocus on its ‘Western Markets’, where it benefits from a stronger operating performance.