The Federal Communications Commission has approved Frontier Communications' proposed $2 billion acquisition of AT&T's Connecticut wireline and U-Verse businesses, Frontier announced.
The FCC found that the transfer to Frontier of AT&T's licenses for the Southern New England Telephone Co. and SNET America "is not likely to harm competition or consumers and likely will result in public interest benefits," according to a decision issued Friday.
The commission noted that since Frontier does not compete against AT&T in Connecticut, which would be one factor in determining if the deal would reduce competition. And since AT&T will continue to offer some services in Connecticut as a competitive local exchange carrier, competition may actually increase, the FCC wrote in the decision.
Frontier still needs the approval of Connecticut's Public Utilities Regulatory Authority. The company said it still hopes to close the deal in the fourth quarter.