NTelos Wireless Selling Eastern Virginia Spectrum to T-Mobile, Refocusing on Western Virginia and West Virginia
Sprint wholesale partner nTelos Wireless said it will sell its 1900 MHz PCS spectrum licenses in eastern Virginia to T-Mobile for around $56 million. The deal, which includes licenses in the Hampton Roads/Norfolk and Richmond markets, is part of a…
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“strategic” refocus on nTelos’ markets in western Virginia and West Virginia, the carrier said Tuesday. “We are right-sizing our business and redirecting our resources on our Western Markets, which provide us the greatest opportunity for sustained, profitable growth,” nTelos Chairman Michael Huber said in a news release. “At the same time, we are exiting markets that have become increasingly competitive and where we have been unable to achieve acceptable financial returns.” NTelos said it expects the sale to close by April following expected FCC and Virginia State Corporation Commission reviews of the deal. NTelos said it plans to transition its eastern Virginia subscribers to another carrier as it winds down operations in the region, though it initially will lease back a portion of the spectrum it’s selling to T-Mobile so it can continue operations in the region until Nov. 15, 2015.