BEDMINSTER, NJ — Verizon Wireless and NTELOS Inc. today announced a definitive agreement for Verizon Wireless to purchase from NTELOS 10MHz spectrum licenses in Pennsylvania for $15.5 million.
The agreement includes spectrum licenses for the Harrisburg, Lancaster, Reading and York areas, which cover a population of 2.1 million people. These licenses, all in the 1900 MHz frequency range, will be used to expand the company's network capacity in those markets to meet growing demand for the company's voice and data services.
The transaction is expected to close in early second quarter of 2005.
About Verizon Wireless
Verizon Wireless owns and operates the nation's most reliable wireless network, serving 42.1 million voice and data customers. Headquartered in Bedminster, NJ, Verizon Wireless is a joint venture of Verizon Communications (NYSE:VZ) and Vodafone (NYSE and LSE: VOD). Find more information on the Web at www.verizonwireless.com. To receive broadcast-quality video footage of Verizon Wireless operations, log onto www.thenewsmarket.com/verizonwireless.
NTELOS Inc. is a regional integrated communications provider with headquarters in Waynesboro, Virginia. NTELOS offers a broad range of wireless and wireline products and services to customers in Virginia and West Virginia and portions of Kentucky, Tennessee, Ohio and North Carolina. Detailed information about NTELOS is available online at www.ntelos.com.