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TechRadar
Ellen Jennings-Trace

Verizon set to buy Frontier Communications in $20 billion deal

Verizon Frontier Frontier Communications
A Verizon store with a customer stood outside using their mobile cell phone.

Verizon has revealed that it's expanding its fiber network by preparing to buy Frontier Communications in a cash deal worth $20 billion. The acquisition aims to help Verizon recapture fiber lines that were sold in 2016 as part of a TV and Internet deal in California, Texas, and Florida.

Verizon offered $38.50 per share, a premium of 36.3% to Frontier’s closing price on the 3rd September. The deal is set to close in 18 months, and is expected to help Verizon compete against premium broadband services such as AT&T.

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