BUSINESS

nTelos shareholders approve merger agreement

Staff Writer
Columbus CEO

WAYNESBORO, Va. (AP) — Shareholders of nTelos Holdings Corp. have approved Shenandoah Telecommunications' $640 million acquisition of the regional cell phone company.

Waynesboro, Virginia-based nTelos says in a news release that the merger won shareholder approval last week at its annual stockholders meeting. nTelos shareholders will receive $9.25 per share in cash when the deal is completed.

The acquisition is expected to close in early 2016.

Edinburg, Virginia-based Shenandoah Telecommunications has said about 290,000 nTelos wireless customers will be converted to Spring affiliated accounts.

Both companies serve portions of Pennsylvania, Maryland, Virginia and West Virginia. nTelos also serves portions of Kentucky, North Carolina and Ohio.