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Verizon is buying Frontier in $20B deal to strengthen its fiber network

  • Verizon is acquiring Frontier Communications for $20 billion to enhance its fiber network.
  • “The acquisition of Frontier is a strategic fit,” said Verizon Chairman and CEO Hans Vestberg.
  • Verizon will pay $38.50 per Frontier share, with the deal expected to close in about 18 months pending shareholder approval.
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Verizon, the American telecommunications giant, will buy the operator Frontier Communications for $20 billion to increase its coverage in the United States, the two firms announced on Thursday. “This strategic purchase of the largest fiber optic internet access provider in the United States will significantly expand Verizon's fiber industry across the country,” they said in a statement. Verizon expects to gain 2.2 million fiber optic subscribers…

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  • 59% of the sources are Center
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Seeking Alpha broke the news in United States on Wednesday, September 4, 2024.
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