NTelos Selling Assets – to What End?
NTelos, a regional wireless operator, serving 270K subscribers in VA and WV, sold the last of its cell towers to a private equity firm last month. Grain Management bought 103 cell towers for $41 million (~$400K per tower) and will lease back to nTelos with the option to reserve capacity. In December, nTelos sold its 1900 MHz spectrum licenses for $56 million to T-Mobile. NTelos stated that it is scaling back its eastern presence to build out in the west, where it currently serves just 180K subscribers. We’ll keep you updated. Read More