Verizon Wireless Signs Agreement to Purchase Controlling Interest in Virginia Business from Shenandoah Mobile Company
November 21, 2002
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Verizon Wireless today announced it signed an agreement with Shenandoah Mobile Company to purchase the controlling interest in a wireless system serving the Virginia #10B2 Rural Service Area (RSA) in a major expansion of its coverage footprint throughout a six-county area located west of Washington D.C. Financial terms were not disclosed.
The agreement provides that Verizon Wireless will purchase a 66 percent partnership interest in the Virginia 10 RSA Limited Partnership from Shenandoah Mobile, a wholly owned subsidiary of Shenandoah Telecommunications Company.
The wireless operation covers markets with a total population (POPS) of some 198,000. Major highways in the footprint include Interstates 66 and 81. The business, operating today under the Shenandoah Cellular brand, will be converted to the Verizon Wireless brand as the operation is integrated into the Verizon Wireless Washington/Baltimore & Virginia Region, headquartered in Laurel, MD.
The Virginia #10B2 RSA covers Clarke, Warren, Frederick, Shenandoah, Page, and Rappahannock counties, Virginia.
About Verizon Wireless
Verizon Wireless is the nation's leading provider of wireless
communications. The company has the largest nationwide wireless voice and
data network and 31.5 million 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 http://www.verizonwireless.com.