x
5G

Shentel finishes sale of wireless biz to T-Mobile

EDINBURG, Va. – Shenandoah Telecommunications Company ("Shentel" or the "Company") (NASDAQ: SHEN) announced today the closing of the previously announced sale of its Wireless assets and operations to T-Mobile USA, Inc. ("T-Mobile"). The Company received cash proceeds of $1.94 billion, inclusive of the approximately $60 million settlement of the waived management fees by Sprint Corporation, an indirect subsidiary of T-Mobile ("Sprint"), and net of certain transaction expenses.

As required by the terms of its 2018 credit facility, $684 million of the proceeds were used to fully repay all outstanding debt and to terminate the facility and related interest rate swap contracts.

Shenandoah Telecommunications

Be the first to post a comment regarding this story.
HOME
Sign In
SEARCH
CLOSE
MORE
CLOSE