Verizon struck a deal to acquire Frontier Communications for $20bn #news #stocks #verizonwireless

Verizon struck a deal to acquire Frontier Communications for $20 billion it's an all cash deal pitched at 3850 cces per Frontier share which is a big 44% premium Verizon picks up 2.2 million fiber Internet subscribers in the deal and expands its footprint in 31 States The telecoms Firm hopes the deal will it reduce customer turn it could take 18 months to complete the deal subject to shareholder and regulator approvals