Ntelos merger approved by shareholders

Shareholders have approved a merger agreement between Waynesboro-based Ntelos Wireless and Shenandoah Telecommunications Co. and Gridiron Merger Sub.

On Wednesday, more than 98 percent of the shareholders attending the Ntelos annual meeting of stockholders voted in favor of the merger proposal. The shareholders in attendance represented more than 69 percent of the company’s outstanding shares.

Shenandoah Telecommunications plans to convert 38 Ntelos retail wireless customers to the Sprint brand, the company said in a press release.

The company’s combined customer base is projected to increase to more than a million people by 2016.

Ntelos shareholders are expected to receive $9.25 a share upon completion of the merger. Customers will not see an “immediate impact to their service,” according to the nTelos website.

“The acquisition of Ntelos by Shentel is an opportunity for two regional companies to join forces and further expand into rural markets, combining our 4G/LTE network and resource to provide a great customer experience,” Ntelos states online.

The devices used by Ntelos customers will work on the Sprint network after the merger is finalized, according to the Ntelos website. Any contractual obligations for service that customers had signed with Ntelos will remain in effect and be transferred to Sprint.

Shenandoah Telecommunications has said it wants to invest more than $300 million to continue a 4G LTE upgrade and expand the existing Ntelos wireless network.