Shentel Completes Sale of Tower Portfolio to Vertical Bridge

Shentel finalises sale of tower assets, paving the way for strategic growth initiatives.

Highlights

  • Shentel completes initial closing of tower portfolio sale to Vertical Bridge Holdco for USD 309.9 million.
  • Proceeds to fund acquisition of Horizon Telcom and accelerate Glo Fiber expansion.
  • Shentel planned to enhance broadband services across the Mid-Atlantic region.

Follow Us

Shentel Completes Sale of Tower Portfolio to Vertical Bridge
Edinburg-headquartered Shenandoah Telecommunications Company (Shentel) announced that it has completed the initial closing of the previously disclosed sale of its tower portfolio and operations to Vertical Bridge Holdco (Vertical Bridge) for USD 309.9 million in cash.

Also Read: Shentel Announces Sale of Tower Portfolio to Vertical Bridge for USD 310.3 Million




Funding Strategic Acquisitions

Shentel initially announced the sale of its Tower Portfolio to Vertical Bridge on March 1, 2024, as reported by TelecomTalk. At that time, the company stated that the Shentel Tower Portfolio being sold consists of 226 tower sites, including 218 macro cellular towers and 8 small cell sites.

"The proceeds from the sale of our Tower Portfolio will be used to fund the previously announced acquisition of Horizon Telcom and provide growth capital to accelerate our fiber-first strategy and planned expansion of Glo Fiber to approximately 600,000 homes and business passings by year-end 2026," said Shentel.

Also Read: Phoenix Tower Secures Investments from Grain and BlackRock to Continue Expansion

Shentel and Vertical Bridge

Shentel provides broadband services through its high-speed, fiber optic, and cable networks to customers in the Mid-Atlantic United States. The Company owns a regional network with approximately 9,900 route miles of fiber.

Based in Boca Raton, Florida, Vertical Bridge has a portfolio of more than 500,000 sites, including over 11,000 owned and master-leased towers, spread across all 50 states and Puerto Rico.

Reported By

Telecom Analyst

Passionately following the Indian #Telecom Industry for over a decade from Business, Consumer and a Technical perspective. My primary focus area is Consumer & Digital Experience.

Recent Comments

PARAG SHAH :

vodafone should not raise rates , as they onlyhave 4g.

Vodafone Idea Brings New Rs 19 Plan

Santosh Kumar Pal WB :

It's only good for Jio and Airtel users for their 5g smartphone but most people are 4g smartphone users in…

Jio Leads Wireline Subscriber Addition in February 2024: TRAI

Santosh Kumar Pal WB :

Jio and Airtel both lead in lndian telecom sector because of their expansion of FTTH broadband connection. Vi lost their…

Is Fixed Broadband the Next Big Opportunity for Telcos

Santosh Kumar Pal WB :

BSNL should join in this race with the partnership with lSRO. But l very curious whether Elon musk starlink will…

Indian Govt Not in Hurry to Allocate Spectrum for Satcom:…

Santosh Kumar Pal WB :

All lndian cable tv operators need DOCSlS 4.0 technology for their good quality broadband connection.

Rogers Partners With CableLabs to Advance 5G and 10G Network…

Load More
Subscribe
Notify of
0 Comments
Inline Feedbacks
View all comments