Shenandoah Telecommunications Company (NASDAQ: SHEN) announced yesterday that the appraisal process related to the purchase by T-Mobile US, Inc., was determined to be $1.95 billion in cash. Shentel and T-Mobile expect to enter into a definitive asset purchase agreement during the first quarter 2021, and anticipate the transaction will close in the second quarter 2021 after satisfying customary closing conditions and obtaining required regulatory approvals.
Shentel expects 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.
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