(Times of Update) — Verizon Communications Inc. is in advanced talks to acquire rival telecom parent Frontier Communications Inc., according to a person familiar with the negotiations.
Times of Update’s most read articles
A cash deal between the two companies could be announced as early as Thursday, said the person, who asked not to be named for nonpublic information. A Frontier representative declined to comment. A Verizon spokesman did not immediately respond to a request for comment.
The Wall Street Journal had previously reported the discussions. Frontier shares jumped 28 percent to $35.82 on Wednesday.
Dallas-based Frontier bills itself as the “largest pure-play fiber optic provider in the United States.” It had revenue of $2.9 billion in the first half of 2024.
–With assistance from Christopher Palmeri.
Times of Update Businessweek’s Most Read Articles
©2024 Times of Update LP
Discover more from The Times Of Update
Subscribe to get the latest posts sent to your email.
