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Shenandoah Telecommunications Company (dubbed Shentel ) said it will cut 340 employees, or 30% of its workforce, across its six-state Mid-Atlantic service area. Approximately 90% of the reductions are employees who support wireless operations and who will not automatically transfer to T-Mobile as part of the transaction, the company said in a release. Shentel agreed to sell its wireless business to T-Mobile earlier this year.
Shentel said it will employ around 860 workers following the cuts. The operator said it anticipates the cuts to reduce its operating expenses by around $4 million.
The company said it now expects to close its transaction with T-Mobile by the third quarter of this year; the company previously said it expected to close the deal in the second quarter.
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Shenandoah Telecommunications Company to Hold its Fourth Quarter 2020 Earnings Call at 8:30 .
Shenandoah Telecommunications CoFebruary 17, 2021 GMT
EDINBURG, Va., Feb. 17, 2021 (GLOBE NEWSWIRE) Shenandoah Telecommunications Company (Shentel) (NASDAQ:SHEN) will release its fourth quarter 2020 financial results before the market opens on Thursday, February 25, 2021 and will host a conference call and simultaneous webcast at 8:30 a.m. Eastern Time that day.
Date: February 25, 2021
ADVERTISEMENT Password: 6067574
A telephonic replay of the conference call will also be available starting two hours after the completion of the call. To access the replay, callers in the United States should call (855) 859-2056 and enter pass code 6067574.
Shentel releases details of expected use of proceeds from $1.95B sale of assets to T-Mobile
Published Saturday, Feb. 6, 2021, 10:22 am
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Front Page » Local/State » Local2 » Shentel releases details of expected use of proceeds from $1.95B sale of assets to T-Mobile
Shenandoah Telecommunications Company announced this week the expected uses of the approximately $1.5 billion of after-tax proceeds to be received from the sale of Shentel’s Wireless assets and operations to T-Mobile US Inc.
Shentel currently expects to use the proceeds to, among other things:
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
Shenandoah Telecommunications Company Announces Expected Use of Proceeds from $1.95 billion .
Shenandoah Telecommunications CoFebruary 3, 2021 GMT
Shentel expects to issue an $18.75 per share special dividend to Shentel shareholders
The Company Provides Preliminary 2020 Financial Results and 2021 Financial Outlook
EDINBURG, Va., Feb. 03, 2021 (GLOBE NEWSWIRE) Shenandoah Telecommunications Company (“Shentel”) (NASDAQ: SHEN) announced today the expected uses of the approximately $1.5 billion of after-tax proceeds to be received from the sale of Shentel’s Wireless assets and operations (“Shentel Wireless”) to T-Mobile US, Inc. (“T-Mobile”). Shentel currently expects to use the proceeds to, among other things: