“The acquisition of Frontier is a strategic match. It’ll construct on Verizon’s 20 years of management on the forefront of fiber and is a chance to turn into extra aggressive in additional markets all through the USA, enhancing our capability to ship premium choices to thousands and thousands extra prospects throughout a mixed fiber community,” mentioned Verizon Chairman and CEO Hans Vestberg.
Verizon and Frontier’s fiber networks | Picture credit score: Verizon
Upon closing the deal, Frontier’s client fiber community can be instantly built-in straight into Verizon’s Fios community. Frontier and Verizon have roughly 10 million fiber prospects throughout 31 states and Washington D.C. with fiber networks passing over 25 million premises.Extra particulars concerning the transaction reveal that can purchase Frontier for $38.50 per share in money. The transaction is valued at roughly $20 billion of enterprise worth. Extra importantly, Verizonsays that the transaction is predicted to shut in roughly 18 months, topic to approval by Frontier shareholders, receipt of sure regulatory approvals and different customary closing situations.
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