T-Mobile to Buy Shentel Wireless for $1.95B Cash

T-Mobile will buy Shentel Wireless, a deal that has been in the works since August, when T-Mobile said it would exercise an option (see 2008270048), Shenandoah Telecommunications said Tuesday. T-Mobile will pay $1.95 billion cash, a price set by three independent valuation providers (see 2102020022). This gives T-Mobile 1.1 million subscribers in parts of Maryland, North Carolina, Virginia, West Virginia, Kentucky, Ohio and Pennsylvania. “The deal, now set to close in Q3, has been in the works since last summer, as T-Mobile had few options but to buyout the old Sprint affiliates,” New Street’s Jonathan Chaplin told investors.