Ntelos buys fiber optic lines from Allegheny

AP News
Posted: Jan 04, 2010 3:59 PM

Ntelos Holdings Corp., a wireless phone service provider, said Monday it has acquired fiber optic assets from Allegheny Energy Inc. for $27 million.

The deal includes 2,200 miles of fiber cables in Pennsylvania and West Virginia, the company said.

Ntelos shares rose 17 cents to $17.98 in afternoon trading. Shares of Allegheny Energy, a power utility based in Greensburg, Pa., fell 13 cents to $23.35.