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Verizon Acquiring Rival Frontier Communications In $20 Billion Cash Deal
Verizon Communications is acquiring Frontier Communications, the largest pure-play fiber internet provider in the U.S., in an in all-cash transaction valued at $20 billion.
The deal shakes up the high-speed landscape by significantly expanding Verizon’s fiber footprint and accelerating its delivery of premium mobility and broadband services to current and new customers. “Less than four years ago, we set out an ambitious plan to Build Gigabit America, the digital infrastructure this country needs to thrive for generations to come,” said Frontier CEO Nick Jeffery. I am confident that this delivers a significant and certain cash premium to Frontier’s shareholders, while creating exciting new opportunities for our employees and expanding access to reliable connectivity for more Americans.”
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