Data News > Verizon Announces $20 Billion Acquisition of Frontier Communications in Major Fiber Network Expansion
- Frontier Airlines CEO will present at the Morgan Stanley 12th Annual Laguna Conference
- Verizon to acquire Frontier Communications in a $20 billion all-cash deal
- The combined fiber network will reach 25 million units across 31 states
- Verizon CEO expects the acquisition to take 18 months to close
- Share price of Frontier Communications surges and then tumbles following the news
Frontier Airlines' parent company, Frontier Group Holdings, Inc., has announced that CEO Barry Biffle will be participating in the Morgan Stanley 12th Annual Laguna Conference on September 11, 2024. This conference will provide a platform for Frontier Airlines to showcase its growth strategies and financial outlook.
Verizon has made a significant move in the telecommunications industry by agreeing to buy Frontier Communications in a $20 billion all-cash deal. This acquisition is aimed at strengthening Verizon's fiber network and expanding its reach to more customers across the United States.
The combined fiber network resulting from the Verizon-Frontier deal is expected to cover 25 million units in 31 states, significantly boosting Verizon's fiber internet coverage. This expansion is crucial for Verizon as it looks to enhance its delivery of mobility and broadband connectivity services to a larger customer base.
Verizon CEO Hans Vestberg has provided details on the acquisition, stating that he expects the deal to take approximately 18 months to close. This timeline indicates a careful consideration of the integration process and regulatory approvals required for the transaction to be finalized.
Following the announcement of the $20 billion acquisition, Frontier Communications' stock price experienced a volatile ride, with shares initially surging by 37% in response to the news. However, the stock later tumbled by 10% in premarket trading as the implications of the deal sank in among investors and analysts.
Verizon's acquisition of Frontier Communications marks a significant move in the telecommunications industry, with the potential to reshape the landscape of fiber network providers and expand the availability of premium broadband and mobility services to customers nationwide.
For more information:
Up/Down Rally Price Distribution Analyst Recommendations Earning Price Impact Analysis Seasonality
Verizon Announces $20 Billion Acquisition of Frontier Communications in Major Fiber Network Expansion
By KlickAnalytics Data Insights | September 5, 2024 08:02PM ET
Key Points
- Frontier Airlines CEO will present at the Morgan Stanley 12th Annual Laguna Conference
- Verizon to acquire Frontier Communications in a $20 billion all-cash deal
- The combined fiber network will reach 25 million units across 31 states
- Verizon CEO expects the acquisition to take 18 months to close
- Share price of Frontier Communications surges and then tumbles following the news
Frontier Airlines' parent company, Frontier Group Holdings, Inc., has announced that CEO Barry Biffle will be participating in the Morgan Stanley 12th Annual Laguna Conference on September 11, 2024. This conference will provide a platform for Frontier Airlines to showcase its growth strategies and financial outlook.
Verizon has made a significant move in the telecommunications industry by agreeing to buy Frontier Communications in a $20 billion all-cash deal. This acquisition is aimed at strengthening Verizon's fiber network and expanding its reach to more customers across the United States.
The combined fiber network resulting from the Verizon-Frontier deal is expected to cover 25 million units in 31 states, significantly boosting Verizon's fiber internet coverage. This expansion is crucial for Verizon as it looks to enhance its delivery of mobility and broadband connectivity services to a larger customer base.
Verizon CEO Hans Vestberg has provided details on the acquisition, stating that he expects the deal to take approximately 18 months to close. This timeline indicates a careful consideration of the integration process and regulatory approvals required for the transaction to be finalized.
Following the announcement of the $20 billion acquisition, Frontier Communications' stock price experienced a volatile ride, with shares initially surging by 37% in response to the news. However, the stock later tumbled by 10% in premarket trading as the implications of the deal sank in among investors and analysts.
Verizon's acquisition of Frontier Communications marks a significant move in the telecommunications industry, with the potential to reshape the landscape of fiber network providers and expand the availability of premium broadband and mobility services to customers nationwide.
For more information:
Disclaimer: the above is a summary showing certain market information. KlickAnalytics is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from various resources and more. Communications displaying market prices, data and other information available in this post are meant for purely for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.