Verizon said on Thursday it would buy Frontier Communications in an all-cash deal valued at $20 billion to boost its fiber network.
in an all-cash deal valued at $20 billion, as the U.S. wireless carrier looks to boost its fiber network.Verizon has offered $38.50 per Frontier share held, a premium of 37.3% to Frontier's closing price on Sept. 3, before reports of a potential acquisition emerged.
Frontier has 2.2 million fiber subscribers across 25 states, which will combine with Verizon's about 7.4 million Fios connections in nine states and Washington, D.C.
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