Verizon's $20 Billion Frontier Acquisition Set for Approval

The California Public Utilities Commission is expected to approve Verizon Communications' $20 billion acquisition of Frontier Communications. The deal involves upgrading and expanding Frontier’s network in 25 states, deploying fiber to 1 million homes annually, and assumes Frontier’s $10 billion debt, following conditions and approvals.

The California Public Utilities Commission is poised to approve Verizon Communications' $20 billion acquisition of fiber-optic internet provider Frontier Communications. This decision follows Verizon's compliance with several regulatory conditions.

Having already secured approval from the Federal Communications Commission in May, Verizon faced scrutiny over issues related to diversity, equity, and inclusion programs, which it agreed to terminate.

The acquisition, valued at $9.6 billion, includes the assumption of Frontier's $10 billion debt. Verizon plans to enhance and extend Frontier's network across 25 states and intends to deliver fiber-optic services to over a million American homes each year.