Back in August, we reported that T-Mobile US would purchase the wireless assets from Shentel. Back then the cost wasn’t known but today we find out that the new monolith has agreed to pay $1.95 billion for the mobile assets from the former Sprint partner.
Shentel and T-Mobile had been “discussing” the value over for the assets. In a regulatory filing, T-Mobile said a third-party appraisal valued Shentel’s mobile business at $2.1 billion. Shentel released the final purchase price was set at 90% of the total ($1.89 billion) plus additional costs related to a Sprint management fee.
It’s still not a done deal as other terms of the purchase agreement remain under negotiation, but it’s expected to be completed by March, 2021 and close in Q2.
Shentel offers mobile coverage spanning six states and had 1.1 million subscribers as of end of Q2 2020.
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