Sprint wholesale partner nTelos adds subscribers but posts net loss ahead of acquisition by Shentel

Sprint (NYSE: S) wholesale partner nTelos posted 20,000 net subscriber adds in the full-year 2015, and reported $87.6 million in revenue during the fourth quarter of 2015, down from $96.7 million during the same period in 2014.

The operator, which is being acquired by fellow Sprint wholesale partner Shentel for $640 million, claimed 302,000 subscribers at the end of 2015, adding 1,900 net users during the fourth quarter. Roughly 40 percent of its postpaid subscribers were on equipment installment plans at the end of the year, it said, and 70 percent of its covered POPs have access to its LTE network.

The carrier reported a net loss after income attributable to non-controlling interests of $196 million, or 92 cents per share, during the quarter.

The eighth-largest U.S. service provider, nTelos is headquartered in Virginia and its network covers more than 5 million people in western Virginia, West Virginia and portions of Maryland, North Carolina, Pennsylvania, Ohio and Kentucky. The acquisition by Shentel, which has yet to be approved by the FCC, will see the nTelos brand be discontinued as roughly 300,000 of its customers become Sprint-branded users. Additionally, nTelos' retail stores will be converted into Sprint-branded locations that will be managed by Shentel.

The acquisition will see Shentel's wireless customer base exceed 1 million.

For more:
- see this nTelos press release

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