Shenandoah Telecommunications Company (“Shentel”) (NASDAQ: SHEN), which serves parts of Appomattox County, announced Tuesday that the appraisal process related to the purchase option for Shentel’s Wireless assets and operations (“Shentel Wireless”) previously exercised by T-Mobile US, Inc. (“T-Mobile”), has been completed. 

In accordance with the terms of the management agreement and through a process with three independent valuation providers, the purchase price (based on a calculation of 90 percent of “Entire Business Value” and inclusive of the unrealized Sprint waived management fee) for Shentel Wireless was determined to be $1.95 billion in cash, subject to customary purchase price adjustments. 

Shentel and T-Mobile had previously agreed that the determination of “Entire Business Value” through the just completed appraisal process is final and binding. Shentel and T-Mobile expect to enter into a definitive asset purchase agreement during the first quarter 2021 and expect the transaction will close in the second quarter 2021 after satisfying customary closing conditions and obtaining required regulatory approvals.

Shentel currently expects that the after-tax proceeds from the sale of Shentel Wireless will be approximately $1.5 billion. The transaction will be accounted for as an asset sale for income tax purposes.

Conference Call and Webcast

Shentel scheduled a conference call and webcast this morning at 8 a.m. to discuss the anticipated sale of Shentel Wireless, expected use of proceeds and Shentel’s financial outlook for 2021 with respect to its continuing operations. The webcast and related materials will be available on Shentel’s Investor Relations website at

An audio replay of the call will be available approximately two hours after the call is complete, through March 3 by calling 855-859- 2056.

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