NTELOS Holdings Corp. (NASDAQ: NTLS) have announced an agreement to purchase specific fiber optic and network assets and related transport and data service revenues from Allegheny Energy, Inc (NYSE: AYE). The purchase will include about 2,200 route miles of fiber located in Pennsylvania and West Virginia. The purchase price for the transaction is about $27 million which is to be funded with cash on hand. The agreement is expected to close by the end of 2009.
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About NTELOS
NTELOS Holdings Corp. is an integrated communications provider with headquarters in Waynesboro, VA. NTELOS provides products and services to customers in Virginia, West Virginia, Kentucky, Ohio, Tennessee, Maryland and North Carolina, including wireless phone service, local and long distance telephone services, IPTV–based video services and data services for internet access and wide area networking.
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