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Shentel falls after updating on T-Mobile affiliate talks

  • Shenandoah Telecom (NASDAQ:SHEN) wrapped the day down 5.6% after an update on its usual affiliate negotiations with Sprint, in the wake of Sprint's absorption into the new T-Mobile (NASDAQ:TMUS).
  • Shentel has been a Sprint affiliate since 1995.
  • With the merger's closure last week, T-Mobile delivered to Shentel a required notice of Network Technology Conversion, Brand Conversion and Combination Conversion, and their agreement provides for a 90-day period to negotiate terms to continue the deal.
  • If the two haven't negotiated an agreeable deal, then T-Mobile has 60 days to purchase Shentel's wireless assets for 90% of entire business value; if T-Mobile doesn't exercise that option, Shentel has a 60-day period to purchase legacy T-Mobile network and subscribers in its area. And failing both those options, T-Mobile has to sell or decommission the legacy network.
  • Talks are ongoing, Shentel says.

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