Sprint (NYSE:S) and regional wireless partner nTelos agreed to settle disputes between the two companies dating back to 2011 over data rates and billing, nTelos said. Terms of the settlement were not disclosed.
The settlement resolves issues related to the companies' "strategic network alliance." The regional player has a wholesale deal to offer Sprint service in West Virginia and western Virginia. In a statement, nTelos said the settlement resolves a data rate reset dispute that began in the fourth quarter of 2011 and an unrelated historical billing dispute that was first raised in the third quarter of 2012.
"We are pleased to put our disputes with Sprint behind us in a manner we view as a win/win for both companies," nTelos CEO James Hyde said in a statement. "Since entering into the SNA in 1999, we have worked closely with Sprint to create a strong and mutually beneficial partnership. Today's announcement further strengthens our relationship by revising and simplifying a number of terms from the original agreement, which we expect will allow nTelos to maintain wholesale revenue at levels consistent with recent quarters and by establishing a basis from which we can extend and expand our partnership beyond the current term."
An nTelos spokesman did not immediately respond to a request for comment.
In connection with the settlement, nTelos said it expects to book an additional $9.6 million in adjusted EBITDA for the third quarter. The company raised its full-year 2013 adjusted EBITDA guidance to between $150 million to $155 million, up from the previous range of $140 million to $145 million.
Earlier this week, nTelos said it will start selling Apple's (NASDAQ:AAPL) iPhone 5s and 5c models Oct. 1. The carrier did not provide pricing. NTelos said in March it would use gear from Alcatel-Lucent (NYSE:ALU) to launch LTE service later this year in "select markets" in Virginia and West Virginia.
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