Monthly Archive for January, 2002

Page 9 of 9

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.

First Snow of Winter

This morning brought the first snow of the year to the Charlottesville area. Just about an inch fell, but it has made an absolute mess of the roads. Lots of roads are closed off, including Earlysville Road, part of High Street, and many roads are backed up for miles. (The 250 Bypass took some motorists over an hour to travel this morning.) Accidents abound, notably the trailer that blocked all of 29 south, up by Airport Road. Schools are cancelled, in many cases requiring that the already-picked up students be shipped back home. Areas east and south of us really got dumped on; just north, in Free Union, not so much of a flake was seen.

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