Verizon and Frontier Ask CPUC for Approval of $20B Deal
Verizon formally asked the California Public Utilities Commission to approve its $20 billion acquisition of Frontier Communications. California and many other states will review the deal, which was announced last month (see 2409050010). The companies also filed an application at…
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the FCC last week (see 2410160049). “Verizon possesses the financial standing and expertise necessary to optimize Frontier’s networks,” the companies said in their Friday application at the CPUC. “By leveraging its significant financial strength, capital resources, and unparalleled technology, tools, and training, Verizon will build on Frontier’s post-bankruptcy efforts since April 2021 to deliver better service, increase value, and offer more choice to current Frontier customers.” The transaction’s benefits “will be achieved with no offsetting public interest harm, as Verizon and Frontier do not materially compete and have no plans to do so,” they added.