The latest announcement is out from Shenandoah Telecommunications Co (SHEN).
On March 29, 2024, Shenandoah Telecommunications Company’s subsidiary, Shenandoah Mobile, LLC, initiated the sale of the majority of its Tower Portfolio to Vertical Bridge Holdco, LLC for a substantial $309.9 million. The deal, which is anticipated to be fully concluded by March 2025, involves multiple closings with the majority of assets being transferred initially. This strategic move was announced through a press release and detailed in a Current Report filed by Shentel, offering a significant cash influx for the telecom company.
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