Ntelos Continues Tower Sell-Off

writes: Waynesboro-based Ntelos, a provider of integrated communications services, said on Thursday that it has closed on the sale of 14 wireless communication towers to American Tower for $4.8 million. The towers, located in the Richmond and Hampton Roads markets, were originally acquired by Ntelos through its July 2000 acquisition of PrimeCo Virginia PCS. The deal is part of a huge sell-off announced by the company on Nov. 1. Ntelos recently sold 46 of its towers for $15.6 million. Ntelos is attempting to improve its financial position after its proposed $408 million merger with Conestoga Enterprises fell though in November.

Ntelos, by the way, is one and the same as CFW.

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