“The acquisition of Frontier is a strategic match. It can construct on Verizon’s twenty years of management on the forefront of fiber and is a chance to develop into extra aggressive in additional markets all through america, enhancing our skill to ship premium choices to hundreds of thousands extra clients throughout a mixed fiber community,” stated 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 shall be instantly built-in straight into Verizon’s Fios community. Frontier and Verizon have roughly 10 million fiber clients throughout 31 states and Washington D.C. with fiber networks passing over 25 million premises.Extra particulars concerning the transaction reveal that may 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 anticipated to shut in roughly 18 months, topic to approval by Frontier shareholders, receipt of sure regulatory approvals and different customary closing circumstances.
