The future of connectivity is the future of commerce, as well as payments and financial services. And with the Thursday (Sept.
VZ enters into a definitive agreement to acquire Frontier Communications to expand its fiber footprint across the United States.
Verizon is buying Frontier Communications in a $20 billion deal to strengthen its fiber network.
The combined fiber network will reach 25 million units across 31 states, significantly boosting Verizon's fiber internet coverage.
Verizon on Thursday announced plans to acquire Frontier in a deal valued at $20 billion so it can boost its delivery of mobility and broadband connectivity services.
VZ agrees to buy Frontier in an all-cash deal valued at $20 billion. Investors seeking to tap the opportunity arising could bet on telecommunication ETFs.
Shares of Frontier Communications (FYBR) tumbled Thursday after Verizon Communications' (VZ) said it plans to buy the fiber network company for $20 billion in cash.
Shares in Frontier Communications Parent have been on a wild ride over the past 24 hours. The stock (ticker: FYBR) saw its price surge a staggering 37% to $38.68 per share after reports that communications giant Verizon was looking to buy the company.
Shares of Frontier Communications (FYBR) are tumbling 10% in premarket trading after Verizon Communications (VZ) said it plans to buy the fiber network company for $20 billion in cash.
Wireless behemoth Verizon announced early Thursday morning that it would be acquiring Frontier Communications - the largest pure-play fiber internet provider in the U.S. - in an all-cash transaction valued at $20 billion. This would be one of Verizon's biggest acquisitions in recent years.
Some major consolidation is afoot in the world of internet communications — and it will have implications for competition and consumer internet access in U.S. On Thursday, Verizon announced that it would gobble up Frontier Communications for $20 billion — more than double Frontier's market cap at the close of trading the night before.
Verizon says the deal will expand its fiber footprint, but analysts expect big gaps in the fiber coverage network even after the acquisition closes.